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New Year investment sale of Air Ambulance shop in popular market town Tavistock.

By February 13, 2018January 26th, 2021Member News & Updates, Property, Why Exeter blog

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.”