Windsor Trust has bought the freehold of the Debenhams department store in Worcester for£8.5 million, representing a net initial yield of 4.92 per cent.
The store at 67/71 High Street, Worcester, is let to Debenhams on a 99-year lease from 1977, expiring in 2076.
Originally, Debenhams had an unusual upwards and downwards rent review clause, but this was recently renegotiated.
The rent is£442,265 a year, equating to just£8.50 per sq ft (£90 per sq m) overall.
Cushman & Wakefield Healey & Baker advised Windsor Trust & Developments.
CB Richard Ellis advised the vendor, the Marchday Group.
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