The property is held freehold via two titles numbered NK339090 and NK28625 Tenure VAT We understand that the property has not been elected for VAT purposes. Legal Costs Each party is to be responsible for their own legal costs incurred in the transaction. We are instructed to seek offers of £725,000 (Seven Hundred and Twenty Five Thousand Pounds), subject to contract, for the freehold interest with the benefit of the existing tenancies. A purchase at this level would reflect a Net Initial Yield of 8.55% after allowing 5.35% for purchaser’s costs (1.8% plus stamp duty land tax) on a total rental income of £65,325 pax. The yield will improve still further following the letting of 4A Exchange Street.