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Woolley & Wallis have arranged the sale of two commercial buildings in Milford Street in the City Centre.
11 Milford Street which is situated adjacent to the Cathedral Hotel and provides a ground floor shop of 702 sq ft with 2-bedroom living accommodation on the upper parts, has been sold to the current occupier. The agents were seeking offers in the region of £300,000.
Across the road a mixed investment property comprising a ground floor office and four self-contained 1-bedroom flats on the upper floors has been sold for well in excess of the asking price of £450,000 following ‘best offers’. The property was generating an income of in excess of £35,000. Selling agent Rob Horton commented “.…the investment market continues from strength to strength on the back of continued low interest rates and a healthy enquiry level. Demand is outstripping supply and investors are prepared to accept lower yields than they would have in the past which is having the effect of forcing up prices. It’s a good time to sell! ”
Woolley & Wallis provide expert advice on both the sale and purchase of investment property and for further advice call 01722 330 333.