Property let to restaurant chain Prezzo sold to private investor
A building in Birmingham which is let to restaurant chain Prezzo has been sold to a private investor for £1.2m, reflecting the “strength of the investment market”, say the advisers on the deal.
The property on Alcester Road in Moseley was acquired for £1,225,000, providing a net initial yield of 5%.
Ankur Chadha, associate director of LSH’s capital markets team in Birmingham, who advised the buyer, said the acquisition demonstrated how private investors are still “desperately searching for stock with strong investment ... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
