Development Securities has bought a 37,500 sq ft (3,485 sq m) retail and office unit adjacent to the Bradford City football stadium for£2.5 million.
The property, which serves as the football club's head office and shop, will be let to Bradford City FC for 25 years at£225,000 a year, with a fixed review to£339,440 at the end of year five and fixed uplifts of 2.5 per cent each year thereafter. The investment shows an equivalent yield of 12 per cent.
Development Securities director of investments Matthew Weiner said: 'The unit benefits from a retail planning permission and forms an integral part of the football club operation. We expect that Bradford, which is the fourth largest city in England, will be able to sustain a football club in the long term.'
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