News - Midlands
FHP completes Newark deal
Nottingham property agent FHP has sold 5 Market Place and 14 Chain Lane in Newark on behalf of its client H&P. The premises were purchased by Broughton Land and Property for £345,000.
The ground floor is let to Cardworld on a ten-year agreement from June 2008. The Chain Lane unit is let to WH Todd for ten years from 1 October 2009.
The upper floors were previously let to Agricultural Travel Bureau, but were left vacant after the company fell into administration last year. The two upper floors comprise about 1,483 sq ft.
The property overlooks Market Place in Newark.
The agreed sale at £345,000 roughly reflects a yield of 8.2 per cent based on full repairing term, said FHP.