News

18 December 2018

Barclays bank investment sale - Lewes

Barclays Bank’s historic branch in the heart of Lewes (10,757 sq ft) has been sold by SHW’s Investment Department.



The two adjoining listed buildings of over 10,000 sq ft are let to Barclays on a lease expiring in 2026, though the bank is entitled to vacate in 2021. The property was sold for in excess of the £1.5 million asking price, which reflected a net initial yield of 4.4%. This reflected the prospects for conversion to alternative uses if in the future Barclays decides to vacate or downsize.

 

SHW Investment Partner Charles Bramly said: “Our client wished to avoid the risk of owning a vacant building. By marketing three years before the tenant's break clause we were able to attract unconditional cash offers. This leaves time for the purchaser to secure planning permission for change of use before Barclays might decide to vacate or downsize.”

 

Contact:
Charles Bramly

cbramly@shw.co.uk

01273 876219

 


Back to news

2018 News

To ensure we give you the best experience on our website we use Cookies. You can change your cookie settings at any time. However, if you continue without changing your settings we will presume you are happy to receive all cookies on the SHW website.

Continue
*/ ?>