Acting on behalf of The Milton Group, we have recently acquired a substantial prime bank investment at 104 Terminus Road, Eastbourne.
Milton continue to expand their portfolio from their own cash resources with the purchase of secure high quality investments and we were pleased to be able to introduce this opportunity to them.
The bank occupies a dominant location within the pedestrianised section of Terminus Road and extends in total to about 9,500 sq ft.
The property is let to Lloyds TSB until 2021 at a current rent of £175,000 per annum and £2.92 million was paid for the freehold interest, reflecting a net initial yield of 5.7%.
We continue to seek similar opportunities for The Milton Group throughout the south east of England.