Private investor moves from offices into Retford NHS centre

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News article

Private investor moves from offices into Retford NHS centre

February 2017

Retford NHS Centre

A private investor has paid almost half a million pounds for a modern industrial unit in Retford with a passing rent of £35,000 per annum.

The building in Swanton Close was on the market with property consultancy Fisher German for £475,000 and was sold very close to the guide price.  It currently houses the NHS’s Randall Park Resource Centre on a lease to March 2019.

Randall Park houses a range of services for the Health Partnership team in Bassetlaw including Child Health and Therapy Team, the Neurological Therapy Team and Child Health Records. The site also houses a general archiving and logistics service. 

The private investor from Leicestershire had sold some offices and was keen to reinvest.  Fisher German partner Kevin Benson, who handled the sale, said: “People are working differently now and we are all far more mobile, which has affected demand for offices, whereas industrial units are in heavy demand and short supply, so our investor leapt at to this change in investment strategy.”

The guide price with normal purchaser’s costs would generate a net initial yield of 7.03% and a capital value of £67.44 per square foot.

For further information contact Kevin Benson on 07748 634848 or email him here

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