A property portfolio comprising 86 residential flats and two commercial properties in the Scottish borders town of Hawick has been sold to a private investor by DM Hall.
The portfolio, which had been built up over 25 years, was estimated to have an aggregate value in the order of £3.951m.
Ross Wilson, DM Hall’s head of agency in the East of Scotland who oversaw the transaction, said: “This sale offers the purchaser a generous net initial yield. With some pro-active asset management and capital expenditure, the reversionary yield will comfortably hit and trade at a sustainable double digit rate of return on investment.”
The purchase price represented a significant discount to reflect the age and disparate nature of the properties.
DM Hall is one of Scotland’s largest independent firms of chartered surveyors.