Craigard secure their second syndication deal in Workington
Craigard have assembled a syndicate of private investors to acquire the Store Twenty One unit in Pow St in Workington. The property is let for another 12 years at a rent of £125k per annum. It comprises of a six year old town centre store of modern clear span design extending to 10000 sq ft.
The property was acquired for £1.2 million representing a net initial yield of very close to 10%.
Commenting on the acquisition managing partner Paul Foster said ‘It is good to secure our second syndication deal following on from Chippenham last December. This represents a sound acquisition offering good value to investors with a handsome initial yield and opportunity to enhance the asset over time.’
Workington Brochure (PDF)