City centre shop sold
A CITY centre shop has been sold by receivers for £350,000 to a private pension fund.
The New George Street outlet is rented to the Card Factory on a five year lease, but investment specialists from Colliers International's Bristol office have sold the long leasehold on behalf of the Law of Property Act receivers.
The Card Factory is not affected and continues to trade normally.
LPA receivers act for banks and private lenders who have secured their loans by a legal charge, such as a mortgage, on a property.
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Under the terms of the legal charge the lender can appoint a receiver to deal with a property when the terms of the mortgage are not being met. The new Card Factory lease was also negotiated by Colliers International's Bristol office.