The right High Street properties are still a good bet

Hot High Street properties are continuing to confound the doom and gloom merchants, according to property agents Bond Wolfe Commercial.

The Black Country-based agents have sold a portfolio of three investments in Gillingham, Ringwood and Southampton that are let to Done Brothers – trading as Bet Fred.

James Mattin, chief executive of Bond Wolfe Commercial, said: “We are delighted to have sold this portfolio of betting shop investments to Harkalm Group Ltd.

“This transaction is symptomatic of where market demand is right now. Despite the persistent reported doom and gloom around High Street retail, we continue to see strong demand from investors for this type of stock.”

The properties at 12-14 High Street, Ringwood, 82 High Street, Gillingham, and 3 Hanover Buildings, Southampton, were sold for a total of £850,000 and currently produce a total of £110,150 in rental income.

Law firm George Green LLP acted for the seller 3147398 Ltd and Harkalm Group Ltd was advised by Axiom Stone.