HTA Real Estate have recently disposed of a newly completed convenience store investment in Lochmaben, Lockerbie, Dumfries.
HTA RE acted on behalf of local developer Sansec Developments and secured a purchaser for the asset at £1.1 million reflecting a net initial yield of 5.50%. The property is let on a new lease to Tesco for a term of 15 years with CPI linked rent reviews. The site was a target for Tesco who were keen to secure representation on Lochmaben as it sits equidistant between two other dominant Tesco stores in Lockerbie and Dumfries.
Douglas Cranston commented "This was a fantastic result for our long-standing client, Sansec Developments. There is always significant interest from private investors to acquire newly constructed, securely let assets of this nature and we were pleased to act on their behalf to find the right purchaser'.
