Edgerley Simpson Howe & Partners - Retail Sale - Kent, Margate Road

Date: 11 Jul 2002

Clients of Scottish Widows Investment Partnership Ltd, have sold the freehold investment of two retail warehouse units on Margate Road, Broadstairs, Kent to CR Chelverton Properties for £4,825,000 reflecting a net initial yield of 6.02%.

The units total 3,047 sq m (32,800 sq ft) and are let to Wickes and Shoefayre at a reversionary rent of £316,750 pa and have 17 years unexpired.

Edgerley Simpson Howe & Partners advised Scottish Widows Investment Partnership.

CR Chelverton Properties were represented by Cushman Wakefield Healey & Baker.

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