Boultbee LDN sells 22 Chequer Street, St Albans for £2.725M

Thursday 14th August 2014

Boultbee LDN has sold 22 Chequer Street, St Albans to CBRE Global Investors, for £2.725M reflecting an initial yield of 4.5%.

The property, formerly known as the Bell Public House, was acquired by Boultbee in August 2007. In 2010 the building was extensively redeveloped for restaurant use and let to Jamie's Italian on a 25 year lease.

Steve Boultbee Brooks Chairman of Boultbee LDN comments:

“The strength of the Jamie’s Italian brand, combined with long income and undoubted potential for rental growth in St Albans, made this an extremely attractive purchase for a Fund. Boultbee LDN will be able to much better utilise the proceeds within our successful London development portfolio.”

Aurum Real Estate acted for Boultbee LDN and Colliers acted for CBRE Global Investors.