More Medical Success
Acting on behalf of private clients,
Lincoln-based commercial property consultants Banks Long & Co, have completed the sale of the Joseph Kittle Medical Centre near Great Yarmouth to a specialist medical centre investor for a price of £2,560,000. The price represents a net initial yield to the purchaser of around 7.45%. The purpose built medical centre is occupied by the local Primary Care Trust on a lease expiring in 2026. Commenting on the sale, Tim Bradford said, ‘This transaction, negotiated and completed in particularly challenging economic circumstances, nonetheless, underlines the market’s continuing appetite for blue-chip property investments’.
