St Modwen pension fund sells retail investment in Bromsgrove
St Modwen Pensions Ltd, trustees of the St Modwen Pension Fund has sold a retail and office investment in Bromsgrove, Worcestershire, to AR & V Properties Ltd for £676,000 reflecting a net initial yield of 8.71%.
The investment at 3-5 High Street, Bromsgrove, comprises two shops and two floors of offices above totalling 422 sq m (4,761 sq ft). 3 High Street is let to Kall-Kwik (UK) Ltd until 2015 and 5 High Street is let to Newsquest Media (Midlands) Ltd until 2014.
St Modwen Pensions was represented by Colliers CRE.
For further information contact Alan Williams of St Modwen (0121-456-2800)
or e-mail: awilliams@stmodwen.co.uk Issued by Paul Raymer of Howle Chapman
Raymer (0121-236-7771).