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Durham Motor Trade Investment Sells for £1.80m reflecting 7.32% Net Initial Yield

Private investor confidence remains high as further investment transactions conclude.  On behalf of a client of Cedarwood Asset Management, Galbraith, acting jointly with MWM Property Consultants have secured the sale of a prime motor-trade dealership in Durham. 

The property is located in a prominent position next to Durham City Retail Park and let to Sherwoods Limited, who run a Peugeot dealership on the site. The property is let for another 11 years and provides a rent of approximately £140,000 p.a.

Jamie Thain, Investment Partner at Galbraith Commented: 

This investment sale attracted interest from across the UK including private investors and a number of specialists in the motor-trade property sector.  The property fundamentals are robust, as with many car dealerships, it is a modern, fit for purpose prominent building, let to a strong tenant and situated on a generous site. 

The property was purchased by a private investor represented by Daniel Capobasso, Partner at Johnson Tucker, based in Newcastle Upon Tyne.