NEWS ARCHIVE

TARGETFOLLOW SELLS BHS, STEVENAGE FOR £11.5 MILLION | 21/06/04

Targetfollow, the leading East Anglian property investment and development group, has sold the freehold interest in BHS department store, 7 The Forum, Stevenage to private clients of Danmerc Property Management for £11.47 million.

The property comprises 80,614 sq ft and is let to BHS Properties Limited on a 99 year lease from May 1976.

Commenting on the sale, Ian Fox said “The sale reflects the demand from funds for this type of quality stock with long term income. The June 2004 rent review has not been settled and this will improve the yield to nearer 6%.”

Targetfollow acted for themselves and Millar Kitching introduced the property to the purchaser.

For further information, please contact:

Ian Fox
Targetfollow
Tel: 01603 767616

Molly Dover / David Foxman
Tavistock Communications
Tel: 020 7920 3150