Private investor and London agency deliver a welcome confidence boost to the regional market
Property investor Mike Bullas of Blue Brick Investments & Developments has sold a retail warehouse investment in Scunthorpe establishing a market-leading level.
Comprising a retail warehouse let to Go Outdoors for a further ten years, the property has been purchased by an overseas investor at a figure of £2.385m, reflecting a yield of 6.5%.
The transaction provides a confidence boost to the region and the investment market as a whole. The fact that the purchaser resides in California, USA, proves two significant points: firstly, the UK remains attractive to investors from distant locations; secondly, adopting modern and leading methods of marketing to identity such purchasers is essential as the agency model rapidly changes.
Mike Bullas was advised in the transaction by Singer Vielle.
“I am delighted we have been able to show some positivity and confidence in the market for investment opportunities outside both the South East and the large regional cities” Mike Bullas
Neil Singer of Singer Vielle: “We have been promoting singerviellesales.com for some time in reflection of the need to embrace leading technology and modern marketing in order to be able to deliver a quality agency service. This is becoming more relevant as each day passes. Without our technology focus, it would not have been possible to find a buyer in California, nor provide an opportunity for this investor to understand the investment from a distance of over 5,000 miles.”