Lake District Retail Investment Acquired

Acting on behalf of a family property company, Peill & Company have acquired retail premises in the centre of Ambleside at Market Place, let to the lifestyle clothing retailer, Rush. The property was let on a new 10-year lease and the investment was acquired off a net initial yield of approximately 7.5%. Peill & Company acted on behalf of the purchasing family property company and Morgan Martin acted for the private vendor. Simon Adams, director of Peill & Company commented “We are pleased to have been able to acquire this attractive retail investment in Market Place, as there is generally a lack of good quality retail investments in the Lake District towns and villages. We have clients actively seeking similar investments since, despite the well-publicised problems with the high street generally, the Lake District tourist locations seem to be performing as strongly as ever”.