THE freehold of an elegant building in one of Taunton's most upmarket streets has been sold to an investment firm.
23 The Crescent has been bought by Edinburgh-based RM Funds for £510,000 after being marketed by Alder King.
The price reflects a yield of seven per cent.
The property is a substantial four-storey building fronting The Crescent.
The original Grade II listed building dating from circa 1800 was extended in the 1980s.
Elements of the building were remodelled in 2018 to create eight high quality residential apartments with the existing orthodontic surgery remaining on the upper ground floor.
The apartments were all sold on long leases.
The orthodontic surgery is let to OrthoWorld on a lease from 2021 at an annual rent of £35,000.
Andrew Maynard of Alder King said: “We are pleased to have finalised the sale of this healthcare investment to a specialist fund with a portfolio of other healthcare and social infrastructure assets including GP surgeries, medical centres, student accommodation, senior living and aged care.”
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