Prime shop premises in Sleaford attracts investors

Lincoln-based chartered surveyor Banks Long and Co today (Tuesday) revealed it has acquired Numbers 38-40 Southgate in Sleaford for London-based Oakdeane Property Investments.

The estate agent’s Managing Director Tim Bradford said the purchase of the premises, which are currently let to the British Heart Foundation, acts as a rare example of positivity in a troubled retail market.

He added this investment is also important because it shows confidence in Sleaford as a sustainable shopping and business destination.

Mr Bradford said: “It is easy to reject all retail investments at the moment. However, pricing on shop investments has adjusted and we consider that certain retail assets provide excellent value for our stable of investors.

“This shop enjoys a prime corner location and, with its ideal dimensions and sales area of 1,380 sq ft, it would attract occupier interest even in these challenging times.

“Sleaford is expanding. Our client took the view that the British Heart Foundation is a secure tenant and has a long lease, at a rent which is in line with 2019 rental values. The credentials all stack up and Oakdeane is delighted to have placed some of its funds in this location in the town,” added Mr Bradford.

The selling agent was London-based KLM.