Glenstone purchases retail unit in Bury St Edmunds

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Posted on May 21, 2024

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Glenstone have purchased 15 Cornhill, Bury St Edmunds for £1.2m reflecting a yield of circa 13%.  The property is let in its entirety to WH Smith for a remaining 8.5 years.   There is a concession to the Post Office on the first floor.

Managing Director Ben Green commented, 'Glenstone first owned this asset 23 years ago.  It's a fantastic flagship store located in one of East Anglia's most attractive towns with a nominal void rate.  This is our first direct venture back into the High Street in almost eight years and I am delighted to have secured this asset at a level significantly less than it has been traded for over recent years'. 

Glenstone remains a diversified U.K. REIT and will consider all assets classes.