Firm pays £1m for UK investment

A small Irish property company has bought a retail and office investment in the UK for £1 million in a deal which will provide a return of around 9 per cent. The modern building at 1/3 Langley Road, Eastbourne, has 2,870 square feet of retail space on the ground floor and three floors of offices let to a Government body, The Employment Service Agency. The 35year lease dating from 1975 provides for five-yearly upwards only rent reviews. The current rent is £100,000 per annum. Barry Chambers of Colliers Jackson Stops negotiated the deal.