INVESTMENT DEPARTMENT SELL £1.6M OF INVESTMENT PROPERTY IN DECEMBER
The Investment Team had a successful run up to Christmas 2015, by successfully disposing of two significant investment properties in Blackburn and Whitby.
The Blackburn property comprised a prominent trade counter unit producing £61,000pa and sold for a net yield of 6.9%. The property in Whitby being a Grade II listed block of 6 no. flats which sold for over £700,000.
Stuart Cooper commented “ The Blackburn sale was particularly pleasing as the client stated from the outset that he was looking for a marketing period of no more than 6 weeks. In that time we managed to obtain 8 bids, the highest one being more than £100,000 over the asking price. This goes to show the current demand for investment properties at present is climbing back to pre-recession levels, combined with the benefit of instructing an Agent with the specialist contacts in order to maximise sale proceeds”.