May 2017

Formby Co-Op Sells Over Asking!

Acting on behalf of private clients, Legat Owen have sold the freehold investment of 37-39 Queens Road, Formby, which was let to the Co-Op at £55,000 per annum.

Following a competitive bidding situation the property was sold to a charitable trust for £1.083m reflecting a net initial yield of 4.8%.

James Lutton who handled the sale commented:

The demand for the property exceeded everyone’s expectations which followed through to a number of bids and securing a sale well in excess of the asking price.

James Lutton, Director