The freehold interest of three retail units forming part of Coypool Retail Park at Marsh Mills in Plymouth has been sold to Triple Jersey Limited for £3,800,000.
The two tenants are: retailers Harveys Furnishing Group, who have a 25 year lease, running from 1998, with five yearly rent reviews and Furniture World, who are on a ten-year lease, which commenced in May 2010.
All three units produce a total income of £379,000, which achieves a net initial yield of 9.4 per cent.
Commercial property consultantcy Hartnell Taylor Cook LLP advised the vendors CA Pilgrim Properties Limited on the sale, while DBA LLP advised Triple Jersey.
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