- Commuter-belt asset changes hands for £1.35 million
A private investor, advised by Curchod & Co, has sold the freehold mixed-use investment at 378-380 Vale Road, Ash Vale.
The property, comprising two ground-floor commercial units and six self-contained flats across the first and second floors, was sold to another private investor for £1.35 million, reflecting a net initial yield of 7.96 per cent. The income total will become £114,000 per annum once the remaining vacant flat is occupied.
Alex Blown of Curchod & Co said, “Demand for well-located mixed-use stock has remained resilient despite wider market uncertainty.
“Investor appetite continues to concentrate on assets with diversified income and realistic rental tones, with this sale demonstrating sustained interest in commuter-belt locations close to strong rail links,” he added.
The building totals five thousand five hundred and eighty square feet, with Unit One let to Levales Solicitors LLP and Unit Two let to Jewel Home Group Limited on leases expiring in 2028. The six flats are all held under assured shorthold tenancies and will produce £81,000 per annum, once the final unit is let.
Situated in the centre of Ash Vale, the property benefits from immediate access to Ash Vale railway station, local shops including a Tesco Express, and strong road connections via the A331, A31 and Junction 4 of the M3.
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