The Howard Portfolio

Unique opportunity to acquire 15 prime high street retail units let to Bank of Scotland Plc for an unbroken term of over 14 years, subject to 5 yearly upward only rent reviews.

• The portfolio comprises 15 retail units located throughout the United Kingdom in major centres that include Croydon, Edinburgh, Leeds, Nottingham, Sheffield and York.
• Total approximate floor area of 121,723 sq ft (11,309 sq m).
• The entire portfolio is let on leases for a term of 20 years from either May or July 2005 to Bank of Scotland Plc without a break.
• 13 properties are freehold, 1 is heritable and 1 is part freehold and part leasehold.
• Total net current income is £3,057,358 per annum.
• We do not envisage that the property is subject to an option to tax but are currently confirming this position with HMRC.
• The Vendors are seeking offers in excess of £51,500,000, for the portfolio, reflecting a net initial yield of 5.61%, after allowing for acquisition costs of 5.80%.  However, individual offers for properties will be considered.
• For further details please go to www.thehowardportfolio.com