Media House a freehold office investment at 14 Richmond Road, Bowdon, South Manchester, has been sold by LMO Properties to a private pension fund for £415,000.
The self-contained office building, which provides 1,000 sq ft of accommodation on basement, ground and first floors, is let to Play on Football Ltd on a three year lease from November 2019 at a rental of £23,000 per annum, reflecting a gross yield of 5.5%.
Daniel Lee, managing director, Regional Property Solutions, who sold the property on behalf of the vendor, said: “This investment was a rare opportunity to acquire a character property in the heart of Bowdon and has in fact been snapped up by a previous owner in an off-market sale”. We are instructed to continue to manage the property on behalf of the new owners”.
