Ambleside - Market Square, Barclays Bank Plc

Peill & Company have acted in the acquisition of the sale & leaseback of Barclays Bank’s premises in the centre of Ambleside on behalf of a private investor.  The property, which was purchased via Cushman & Wakefield’s London auction was acquired for £720,000 on the basis of a new 15-year lease at £25,000 per annum plus income from a residential letting on the upper floors giving a total income of £30,400 per annum.  The acquisition shows an initial yield of 4.22% and shows the strength of the investment market, particularly for well-let properties to blue chip covenants such as Barclays. Peill & Company have subsequently been retained to manage the investment on behalf of the private investor purchaser.