APAM Achieves Strong Yield for Altrincham Property

APAM has arranged the sale of 58 George Street, Altrincham for £612,000 to a private investor within 12 months after acquiring forming part of a the project Titan Portfolio.
The property totals 5,212 sq ft located along the main retail pitch in Altrincham let to Sportswift Ltd, t/a Card Factory at £50,000 pa with c.2 years unexpired.
Pete Owen, Senior Asset Manager at APAM commented “The sale of this asset reflects a net initial yield of 7.72%, which reaffirms that regional investment markets continue to show strong returns for retail units situated in popular retail centres with good levels of footfall, let to strong covenants and the opportunity to add value in the near future. We are delighted with the result which fits in well with our overall asset management strategy.”

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