The property comprises an attractive listed bank premises arranged over basement, ground and first floors. The upper floors are arranged to provide a self-contained residential flat. At the time of purchase in March 2010 the property was let for a further 2.5 yrs to Barclays Bank. Acquired in March 2012.
Upon acquisition the existing lease was regeared for a term of 20 years and the property subsequently sold.
Ungeared IRR: 55%
Hold Period: 6 months.
Acquired on behalf of: