Transaction:
Price: £3m
Net Initial Yield: 8.75%
Success Story
TDB Real Estate are pleased to announce the successful sale of Montagu Court, Kettering.
In 2013 Mark Brown at TDB advised a private client to purchase this multi let office investment from Laselle Investment Managers in the sum of £1.65m.
What followed was a period of asset management, including dealing with outstanding rent reviews, a new letting and re-gearing some of the existing leases. In addition the appearance of the scheme was improved by re-spraying the powder coated window/door frames and generally upgrading the external areas.
As a result of this asset management, combined with some yield compression, the investment has just been sold for £3m which represented a net initial yield to the purchaser of approx. 8.75%.
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