London – 21st December 2009 – CB Richard Ellis and Wolfe Property Services have completed the purchase of a parade of shops in High Street, Guildford on behalf of the Manny Davidson Trust for £13.45 million reflecting an initial yield of 7%.

The predominantly retail property comprises 9 retail units on ground floor level with circa 15,000 sq ft of office accommodation above. Tenants include Phase Eight, Argos, Rymans, Greggs and Hamptons.

Gerald Davidson for Wolfe said: “My clients have tried for some years to buy in Guildford, this parade has provided an opportunity to acquire shops at nearly a third of the rental value of the prime pitch.”

The vendor, Rockspring, was represented by Kitchen La Frenais Morgan.