Hallmark Real Estate Group, on behalf of a private client, has disposed of a 6,000 sq. ft. high street retail unit.
The property in South Shields, Tyne & Wear sold to an undisclosed purchaser for a 9.6% yield. The entire property is let to Luxury Leisure, trading as Admirals amusements until 2021.
Gabriel Kada of Hallmark Asset Management said: “The sale outperformed our original expectations and consolidates our strategy to focus on prime real estate.”
The vendor was represented by Singer Vielle.