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Metric begin 2011 with PC World acquisition

Metric Property Investments have begun 2011 through the purchase of their 11th property, the PC World unit on Old Shoreham Road, Hove from Aviva Investors. The property has a bulky goods consent and currently provides 19,280 sq ft of ground floor accommodation. However, the unit benefits from consent for a 10,000 sq ft extension, which Metric intend to implement. Metric paid £8,050,000 for the property. The purchase reflects a net initial yield of 5.7%, with the current PC World passing rent at £25.00 per sq ft. There is currently an outstanding rent review on the property, with the anticipated settlement being at £26.00 per sq ft.

Wilkinson Williams acted on behalf of Metric Property Investments.

For further information please contact:

Ellie Kirkby

T: 020 7317 3790 M: 07764241898
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Miles Marten

T: 020 7317 3777 M: 07770 748290
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