Developer Earlplace has sold three retail units in Leamington for £950,000.
The shops, on the Parade, trade as Underground, Reynolds Blinds and a-Plan Insurance.
Terms unexpired on the leases are of one, nine and twelve-and-a-half years respectively.
The current rent of £69,000 per annum shows a net initial yield of 6.8 per cent.
The retail units have been purchased by a local private investor, who was advised by Leamingtonbased agents Peter Bromwich & Company. Evans and Hardy acted for Earlplace.
Earlplace has also recently completed the conversion of the upper floors into ten luxury apartments, of which three have already sold.
They are aimed at young buyers and are competitively priced thanks to the rental income Earlplace had been receiving for the shops.
Tim Malby, Managing Director of Earlplace, said: The Parade is the central location in Leamington Spa and our conversion has taken full advantage of the buildings structure to provide light and spacious modern living accommodation.
The rental income we had been receiving allowed us to price the apartments at levels within the reach of young purchasers.
Thomas Bromwich, of Peter Bromwich & Company, said: The properties are opposite the new Regent Court mixed use development scheme which is due to come on stream later this year, and this deal once against reflects the popularity of Leamington as a trusted location for value property investment.
Elsewhere on the Parade, at Clarendon Court, Earlplaces luxury development with Deeley Properties, sales in excess of £1.5 million have been completed prior to practical completion due at the end of the month.
