Reply To: Bewleys
I agree it would make a great book shop, But feel that it is more likely to ressemble River Island a few makeovers later
In its present form it is absolutely no use to attract the type of retailer required to attract open market rental values, it would need to be altered beyond recognition for clothes or any other retail use other than as a cafe or bookshop.
I really am begining to question the rationale behind the purchase, as I feel the initial yield of 7.43% adequately reflects the ‘protected status’ of the property.
Given that prime retail yields at the time of the transaction were c 4% it is fair to discount current rental vales by about 40-45% thus giving a rental cost well below the market value.