9 Market Street Tavistock is let to Devon Air Ambulance for 10 years from 2015 with a tenant break option in 2019 on effectively full repairing and insuring terms at a rent of £21,000 pa.
There are four flats on the upper floors all sold off on long leases.
The vendor, one of Vickery Holman’s retained portfolio clients, completed the sale at £225,000 which reflects a net initial yield of 9% allowing for purchasers cost of 2.51%.
Mike Oldrieve, Vickery Holman’s Head of Investments, comments
“Tavistock is a popular market town and with the added benefit of a tenancy to the Devon Air Ambulance, this listed building attracted interest from several parties. There is currently a shortage of investment opportunities available and we would be delighted to sell more properties like this one for which there is demand.”.
