Drawing tourists from around the world with attractions including the historic park, market, Cutty Sark and National Maritime Museum, Greenwich has long been seen as a safe haven by property investors. Further international attention will be forthcoming during 2012 with Greenwich hosting a number of high profile events for the London Olympics, which will no doubt also boost the local economy. A quality location, coupled with one of the strongest covenants in the UK at present, left us confident of achieving a good result when we were instructed to dispose of a triple retail unit on Trafalgar Road let to Tesco in the Autumn. Our high profile, national marketing campaign generated a strong response, and a number of competitive offers were received. The virtual freehold interest, let until 2022, was ultimately sold to a private investor at a figure comfortably in excess of £1m, representing a Net Initial Yield of 5.5%. In spite of the restricted availability of funding, we continue to experience high demand for quality property investments, and would be keen to assist if you are minded to dispose of such an asset.
