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LONDON-A private overseas investor advised by DTZ has bought 14/19 Queen’s Square, Crawley, West Sussex from a private client of Atis Real Weatheralls for approximately £7 million ($11 million) equating to a net initial yield of 5.75%.

The prime 43,800-sf retail unit is let to Woolworths on a 25-year lease from March 2001, with five yearly minimum uplifts at a rent of £423,860 ($712,000) per annum.

Rebecca Holliday, of Atis Real Weatheralls’ investment agency team said: “This is a solid price for a modern retail unit let to a strong covenant and reflects the general strength of the investment market.”

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