APAM Arranges Sale of Manchester Property for 8.5% Yield

APAM has arranged the freehold investment sale of 49-51 School Road, Sale, Greater Manchester for £415,000 to a regional investor, within 12 months after its acquisition as part of the project Titan Portfolio.
The property (4,425 sq ft) situated on the prime pedestrianised retail pitch within Sale town centre is let to Superdrug Stores Plc for a term of five years. Pete Owen, Senior Asset Manager at APAM commented, “The sale of this asset reflects a net initial yield of 8.5%. We are delighted with the result which fits in well with our overall asset management strategy.”
 

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