100% Prime Bath Retail Parade Acquisition

Forge are pleased to have acted on behalf of an institutional purchaser for the acquisition of 42-48 Southgate Street, Bath.

The property occupies a 100% prime retail position opposite the entrance to the Southgate Shopping Centre, in the heart of Bath, an exceptionally attractive and historic city, and one of the strongest retail centres in the UK.

Comprising two well-configured retail units, the property is let to Superdrug Stores plc and H&M Hennes & Mauritz UK Limited. Both tenants have renewed their leases within the past year at rebased rents, reaffirming their commitment to this key retail location.

Jonathan Mills commented:

“We were delighted to complete on the acquisition of this 100% prime retail parade. The property is let off fully rebased rents to two institutional grade covenants and with the purchase price reflecting a Net Initial Yield of 7.50%, we believe there is plenty of scope for future rental growth and capital appreciation.”

For more information, or to discuss similar opportunities, please contact Jonathan Mills or Joe Baio.