Deal done in Walton on Thames

Our urban logistics team are pleased to have acted on behalf of our client who purchased a 5,000 sq ft trade unit in Walton on Thames.

The modern, freehold trade counter investment was sold for by Travis Perkins (Properties) Ltd for £1,600,000, representing a net initial yield of 3.83%. The site was developed by Travis Perkins in 2017 and included a neighbouring residential scheme, separately sold to Paragon Asra Housing.

The 5,000 sq ft trade unit is occupied by a Travis Perkins Group plumbing and heating division subsidiary, City Plumbing Supplies. The lease is for 15 years at an initial rental of £65,000 pa.

The sale concludes a disposal programme by Travis Perkins of 8 freehold trade units, let to City Plumbing Supplies and there was strong competition for the investments from private investors. HSM acted for Travis Perkins Properties on the sales, whilst we acted for the purchaser of the Walton property.