Chichester retail investment changes hands
A retail investment at 14-15 East Street and 1a St Martins Street in Chichester has changed hands, being sold to a private buyer.
The property occupies a prominent position on the northern side of East Street, close to the historic Market Cross. East Street is one of Chichester’s principal retail thoroughfares, benefitting from a fully pedestrianised environment.
The retail unit is let to Holland & Barrett on a 10-year lease commencing on 5 November 2024, providing long-term income. 1a St Martins Street is let to a local barber.
Mark Minchell of Flude Property Consultants, which acted on behalf of the vendor, said: “This sale demonstrates the great fundamentals of high street retail investments in great pitches in the better retailing towns and cities. Yields are still attractive and there are demonstrable rental growth prospects.”
BWP Commercial acted for the buyer.