Trowbridge and Melksham-based commercial property consultants Kavanaghs have acquired sought-after retail properties in Cirencester's Castle Street on behalf of an investor.
Having acquired 51 Castle Street on behalf of the investor earlier this year, the agents were approached by the owners of the adjoining 53 and 61, who were looking to sell.
Stephen Brickell, commercial property manager at Kavanaghs, said: "We leapt at the opportunity to agree a purchase of the property which comprises of two adjoining ground floor retail units with a self-contained residential flat above.
"The purchase represents a near double digit return on capital for our client even before taking into account any marriage value with their first purchase.
"Our client is in the enviable position of having surplus investment funds and asked us to seek out and identify suitable investment opportunities for them across southern England which were high yielding and offering asset management opportunities.
"We carried out inspection and full investment appraisal and valuation. We have been instructed to manage the property for the client post completion and are looking forward to the exciting management opportunities this property offers in the future.”
Kavanaghs offer a full investment search and acquisition service for clients along with comprehensive commercial property management service. Details are available at www.kavanaghs.co.uk/commercial/