Instructions

SYTNER BMW, LENTON LANE, NOTTINGHAM

FOR SALE

Disposal of flagship car dealership investment.

  • Nottingham is the dominant economic centre in the East Midlands region with Lenton Lane being one of the leading commercial locations.
  • Lenton Lane and the surrounding area is recognised as the prime motor trade location in the City.
  • Sytner Group are committed to the location, operating four other franchised dealerships and an accident repair centre in the immediate vicinity.
  • The building is a flagship dealership for BMW totalling 41,786 sq ft on a site of 2.47 acres.
  • The investment offers an unexpired term of 18 years to Sytner Group Ltd, the largest motor dealer in the UK.
  • Sytner agreed a new 20 year lease in 2017 having been in occupation of the property since it was developed in 2003.
  • The rebased rent of £584,250 pa (£13.98 psf) is an affordable overhead for a major BMW business in such an important market territory.
  • The rent is subject to five yearly RPI linked rent reviews, capped at 2.5% pa.
  • Offers sought in excess of £10,950,000, subject to contract and exclusive of VAT, for the long leasehold interest. This reflects a net initial yield of 5%.

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SYTNER BMW, LENTON LANE, NOTTINGHAM

THE MAPLE PORTFOLIO

FOR SALE

Disposal of 4 Trade Counter, Showroom and Warehouse Investments.

  • Strong and long-established trading positions within their catchment areas (more than 20 years).
  • Freehold.
  • Let to City Plumbing Supplies Holdings Ltd, a wholly owned subsidiary of Travis Perkins plc.
  • Total GIA: 27,153 sq ft.
  • Let for 10 Years from 2nd August 2019 on FRI terms, incl. a T.O.B. @ Yr. 5.
  • Upward only R.R. at Yr. 5 to Market Rental.
  • Low Initial Rentals – £4 psf to £6.85 psf.
  • Total Initial Rental: £141,250 pa (£5.20 psf).
  • Realistic prospects of rental uplifts at review.
  • Total Quoting Price: £2,007,000 excl. VAT.
  • Low Cap Value – £74 psf.
  • Initial Yield: 6.72% (Purchase Costs @ 4.71%).
  • Priced individually or available as a portfolio.
  • Subject to Contract

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KEYLINE BUILDERS MERCHANTS – COUNTY PARK, SHRIVENHAM ROAD, SWINDON

SOLD

Disposal of a trade counter investment.

  • Trade counter unit (1990’s) of 29,765 sq ft GIA, with extensive yard and low site coverage: 24%
  • Tenant – Travis Perkins (Properties) Ltd – D&B 5A1
  • Occupier – Keyline Builders Merchants Ltd (Travis Perkins plc subsidiary) – D&B 5A1
  • FRI lease for 12.4 years, expiring 30th November 2031 (subject to a Schedule of Condition)
  • Virtual Freehold – 200 year leasehold from 2006 at a peppercorn rental with an Option to purchase Freehold for £1
  • Low commencing rent of £4.54 psf (payable monthly) for the trade unit; (assuming 45% site coverage, £1.50 psf for additional yard and mezzanines at 50%)
  • Minimum fixed increases at rent review in Dec 2022 & Dec 2027 to the higher of two thirds of Market Rent or 3% pa (15.93%)
  • Current estimated Market Rent: £195,000 pa (£6 psf GIA plus £1.50 psf for additional yard)
  • Offers in excess of £2,615,000, exclusive of VAT (£88 psf Capital Value, incl. mezzanines)

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Keyline Builders Merchants Ltd, County Park, Shrivenham Road, Swindon, SN1 2NS

CITY PLUMBING SUPPLIES, 159 STANLEY ROAD, TEDDINGTON, MIDDX, TW11 8UF

SOLD

Disposal of a trade counter and showroom investment.

  • Located in Teddington, an affluent suburb in South West London.
  • Prominent corner site on main thoroughfare.
  • Freehold.
  • New 15 year, FRI lease (without break), from June 2019, to City Plumbing Supplies Holdings Ltd (a Travis Perkins plc subsidiary).
  • Initial rental – £12,000 pa.
  • 5 yearly upward only rent reviews to Market Rental.
  • Reversionary value for retail use
  • Alternative use as residential with potential for a substantial increase in value on VP (subject to planning).
  • Price: OIEO £235,000, exclusive of VAT
  • Initial Yield – 4.98% (net of Purchaser’s Costs).
  • Subject to Contract

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City Plumbing Supplies, 159 Stanley Road, Teddington, Middx, TW11 8UF

CITY PLUMBING SUPPLIES, 1 PARK ROAD, HAMPTON HILL, HAMPTON, TW12 1HE

SOLD

Disposal of a trade counter investment.

  • Located in Hampton Hill, an affluent suburb in South West London.
  • Prominent site on main thoroughfare (A313), close to the High Street, adjoining a substantial residential property.
  • Freehold.
  • New 15 year, FRI lease (without break), from June 2019, to City Plumbing Supplies Holdings Ltd (a Travis Perkins plc subsidiary).
  • Initial rental – £26,500 pa.
  • 5 yearly upward only rent reviews to Market Rental.
  • Possible alternative use with potential for a substantial increase in value on VP (subject to planning).
  • Price: OIEO £510,000, exclusive of VAT
  • Initial Yield – 4.96% (net of Purchaser’s Costs).
  • Subject to Contract

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LANCASTER VOLKSWAGEN & SKODA, GREYFRIARS COURT, KINGSTON, MILTON KEYNES

SOLD

Disposal of a prime freehold car dealership investment.

  • Milton Keynes is recognised as one of the fastest growing towns in the UK.
  • The property is located in the established commercial district of Kingston adjoining a cluster of other car dealerships.
  • A modern dual franchise dealership of 35,583 sq ft with an excellent car parking provision of over 300 spaces.
  • Volkswagen Group have their UK headquarters in Milton Keynes, hence the property is an integral part of their dealership network.
  • A large site of 3.11 acres reflecting a 23% site cover.
  • Let to the excellent covenant of Volkswagen Group United Kingdom Ltd until July 2025. 
  • A passing rent of £520,000 pa (£14.61 psf) offering the potential for a rental uplift on review in 2020.
  • Offers sought in excess of £8,125,000, subject to contract and exclusive of VAT, reflecting a net initial yield of 6.00%.

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HOWDENS, 14-16 EASTHAMPSTEAD ROAD, BRACKNELL

SOLD

Disposal of freehold trade counter investment.

  • Bracknell is a major Thames Valley commercial centre, benefitting from the recent town centre regeneration.
  • The property occupies a strategic location in the town with excellent access to the motorway network.
  • Easthampstead Road is recognised as one of the leading locations for trade counter occupiers.
  • Entirely let to the strong covenant of Howden Joinery until September 2028.
  • The rent of £108,000pa was recently agreed on review and reflects only £7.29psf.
  • Offers sought in excess of £1,800,000, subject to contract and exclusive of VAT, reflecting a net initial yield of 5.65% and a capital value of £122psf.

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WICKES, SANDOWN ROAD, WISBECH

SOLD

Prime retail warehouse investment.

  • Newly constructed retail warehouse.
  • Commenced trading February 2018, offering Wickes’ latest trading format.
  • Prime trading location, immediately adjoining the Wisbech and Belgrave Retail Parks.
  • Wickes Building Supplies Ltd – FRI lease for 20 years from 1st October 2018 (T.O.B. Yr 10)
  • Total GIA of 26,015 sq ft (2,417 sq m).
  • Low commencing rent of £258,000 pa.
  • Equates to £11.80 psf, on rentalised area.
  • 5 yearly upward only rent reviews to Market Rent (increase capped at 3% pa).
  • Offers in excess of £4,210,000, exclusive of VAT.
  • Net Initial Yield of 5.75 %, assuming 6.55% Purchaser’s Costs.

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4 GLASS WHARF, AVON STREET, TEMPLE QUARTER, BRISTOL

FOR SALE

Outstanding freehold development opportunity.

  • A rare opportunity to buy a prime freehold site within Bristol’s enterprise zone, located amongst major corporate occupiers including PWC, Grant Thornton, Burges Salmon and the Government Property Unit’s (HMRC) new Bristol HQ.
  • The site extends to circa 1.3 acres (0.53 ha) and benefits from a recently granted planning consent for 215,091 sq ft (IPMS 3) for a ground + 7 storey B1 office building.
  • Only a short walk to Temple Meads Station and the recently announced £300 million University of Bristol Temple Quarter Enterprise Campus.
  • The site previously benefitted from consent for a mixed use scheme incorporating residential, retail and workshop space.
  • Potential for change of use to residential, PRS, hotel, student or mixed-use (subject to planning).
  • Two plots on Avon Street are currently being developed by Legal & General for a new PRS scheme.

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4 Glass Wharf, Avon Street, Temple Quarter, Bristol

AXIOM, ORBITAL PARK, ASHFORD, KENT

SOLD

Freehold multi-let modern industrial investment.

  • Well located less than 1 mile from Junction 10 of the M20.
  • Strong tenant profile, namely Howdens Joinery, Meggitt and Hire Station.
  • In close proximity to major national operators including Screwfix, Toolstation, Halfords and Topps Tiles.
  • The current rents passing totals £528,323 pa, which equates to £9.50 psf.
  • 5.56 years unexpired term with potential for rental uplift.
  • Offers sought in excess of £10,063,295 subject to contract and exclusive of VAT. This equates to a capital value of £181 per sq ft. A purchase at level would provide an Initial Yield of 5.25% assuming purchasers costs of 6.69%.

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NORWICH HOUSE, SAVILE STREET & 6 – 8 GEORGE STREET, HULL HU1 3ES

SOLD

Prime freehold multi let office and retail investment.

  • Centrally Located in Hull City Centre with attractive views over Queens Garden.
  • Multi let office and retail building with office suites arranged over four floors and three retail units on the ground floor totalling approximately 2,948 sm (31,733 sq ft) with 6 car spaces.
  • Freehold.
  • Currently produces a rental income of £199,884 pa, including the Regus fit out rent and assuming 12 months guarantee on the vacant office suite, which will provide the opportunity for a reversion going forward.
  • Key tenants include: Regus, Scope and Newcross Healthcare Solutions.
  • Total GIA of 37,869 sq ft (3,518 sq m).
  • Potential for Permitted Development Conversion to residential.
  • AWULT to expiry 6.09 years (4.9 years to the breaks).
  • Offers sought in excess of £1,400,000 (One Million, Four Hundred Thousand Pounds) subject to contract and exclusive of VAT. This equates to a capital value of £36 per sq ft on the upper parts.
  • A purchase at this level would provide an initial yield of 13.46% assuming purchasers costs of 6.05% and a revisionary yield of 20.27%.

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EDDIE STOBART HQ, STRETTON GREEN DISTRIBUTION PARK, LANGFORD WAY, APPLETON, WARRINGTON WA4 4TZ

SOLD

Prime freehold distribution investment.

  • Distribution HQ adjoining the M56.
  • Established location in Warrington on the Stretton Green Distribution Park.
  • Warehouse, office and distribution yard totalling 164,048 sq ft (GIA).
  • Site of approximately 17.59 acres, providing a low site cover of just 20%.
  • Includes land for future expansion.
  • Freehold.
  • Let to Eddie Stobart Ltd with a guarantee from the Stobart Group Ltd.
  • 15 years unexpired term with fixed annual uplifts.
  • The current rents passing totals £1,213,292 pa which equates to £4.55 psf on the warehouse element.
  • Offers sought in excess of £21,650,000, subject to contract and exclusive of VAT.
  • A purchase at this level would produce a net initial yield of 5.25%, assuming purchase costs of 6.75%.

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HAMBRIDGE ROAD, NEWBURY RG14 5EA

SOLD

Prime retail warehouse investment.

  • Newly constructed, retail warehouse and trade counter development.
  • Unit 1: Wickes Building Supplies Ltd – FRI lease for 20 years from 25th May 2018 (T.O.B. Year 10)
  • Unit 2: JP McDougall & Co (t/a DULUX Decorator Centre) – FRI lease for 10 years from 9th May 2018 (T.O.B Year 5).
  • Unit 3: Benchmarx (Travis Perkins plc subsidiary) – FRI lease for 10 years from 25th May 2018.
  • Prime trading location and offering Wickes’ latest trading format.
  • Total GIA of 37,869 sq ft (3,518 sq m).
  • Low aggregate commencing rent of £329,500 pa.
  • Equates to £11.58 psf for Wickes and £7.61 psf for the Trade Counter accommodation (on rentalised areas).
  • WAULT of 17.7 years (9.32 years after T.O.B.’s).
  • 5 yearly upward only rent reviews to Market Rent (Wickes increase capped at 3% pa).
  • Offers in excess of £5,620,000, exclusive of VAT.
  • Net Initial Yield of 5.50 %, assuming 6.61% Purchaser’s Costs.

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WICKES, LANGSTON ROAD, LOUGHTON IG10 3TQ

SOLD

Prime retail warehouse investment.

  • Comprehensively refurbished, south east solus retail warehouse.
  • Excellent location within M25 and offering Wickes’ latest trading format.
  • Close to recently opened Epping Forest Shopping Park.
  • New letting to Wickes Building Supplies Ltd, a secure 5A1 covenant.
  • 20 year FRI lease from 21st May 2018 (T.O.B. at Year 15).
  • Total GIA of 27,065 sq ft (2,514 sq m).
  • Low commencing rent of £335,000 pa (£14.02 psf on rentalised area).
  • 5 yearly upward only rent reviews to Market Rent (capped at 3% pa).
  • Offers in excess of £5,960,000, exclusive of VAT.
  • Net Initial Yield of 5.25%, net of 6.62% Purchaser’s Costs.

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GUNNEBO ENTRANCE CONTROL LTD, THE GATE HOUSE, ASHDOWN BUSINESS PARK, MARESFIELD, EAST SUSSEX TN22 2DU

SOLD

Brand new, prime B1, B2 & B8 investment.

  • Well located and attractive south east business park setting.
  • Newly constructed B1, B2 & B8 unit of 19,160 sq ft GIA.
  • High standard of specification, design and fit-out.
  • Adjoins John Lewis Partnership distribution unit.
  • Securely let to Gunnebo Entrance Control Ltd (D&B – 1A1) for 15 years from March 2018 (T.O.B. March 2028).
  • Initial rental – £177,000 pa (£9.23 psf).
  • Five yearly upwards only rent reviews to higher of uncapped RPI or CPI.
  • Parent Company Guarantee from Gunnebo AB (D&B- AA).
  • Freehold
  • Offers in excess of £3,200,000, exclusive of VAT.
  • Initial yield of 5.2% (net of 6.47% Purchaser’s Costs)

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VERNEY HOUSE, 248 FULHAM ROAD & 1B HOLLYWOOD ROAD, CHELSEA

SOLD

Prime London retail and office investment.

  • Located in a prominent position in one of the most affluent Boroughs in the country.
  • Multi let office and retail building with two frontages arranged over 4 floors totalling approximately 1,413 sq m (15,215 sq ft) with 13 basement car spaces.
  • Freehold.
  • Currently produces a rental income of £662,476 pa, assuming a guarantee on the vacant unit, which will provide the opportunity for a reversion going forward.
  • The building is not listed or in a Conservation Area, providing the longer term possibility of converting the offices to residential and increasing the building size, subject to planning.
  • AWULT to expiry 6.5 years (3.7 years to the breaks).
  • Seeking offers in excess of £13,500,000 (Thirteen Million Five Hundred Thousand Pounds) subject to contract and exclusive of VAT.
  • Net Initial Yield of 4.60% rising to 4.93% assuming a reversion of £710,616 pa and purchasers costs of 6.72%.
  • Capital value of £824 per sq ft on the upper levels.

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Verney House, 248 Fulham Road & 1B Hollywood Road, Chelsea SW10 9HT

3 QUEEN’S SQUARE, ASCOT BUSINESS PARK, ASCOT

SOLD

Prime south east office investment.

  • Modern Grade A south east office building.
  • Located in the affluent Berkshire town of Ascot.
  • Self contained building totalling 194 sq m (2,089 sq ft).
  • Single Let to KSF Aquisitions UK Ltd until Jan 2020.
  • Rental income of £54,775 pa (£26.22 psf).
  • Rack rented with future growth potential.
  • Established rental growth of around 7.5% pa over the last 6 years.
  • Virtual freehold (999 years).
  • Offers in excess of £750,000 which reflects NIY of 6.93%, assuming standard purchaser’s costs of 5.40% and a capital value of £359.00 per sq ft

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3 Queen's Square, Ascot Business Park, Lyndhurst Road, Ascot SL5 9FE

WICKES & SPIRE AUTOMOTIVE, OTTERSPOOL WAY, WATFORD WD25 8HL

SOLD

Details:

Prime retail warehouse investment.

  • Newly constructed, south east, retail warehouse.
  • New letting to Wickes Building Supplies Ltd, a secure 5A1 covenant.
  • Wickes occupying under a 20 year FRI lease.
  • Initial rent of £400,000 pa (£18.54 psf on rentalised area).
  • Prime trading location and offering Wickes’ latest trading format.
  • Additional, self contained B2/B8 unit let to Spire Automotive for 10 years (9.25 yrs unexpired) at £75,000 pa (£15 psf).
  • WAULT of 18.3 years.
  • Total GIA of 30,037 sq ft (2,545 sq m).
  • Low aggregate commencing rent of £475,000 pa.
  • 5 yearly upward only rent reviews to Market Rent (Wickes rental increase capped at 3% pa).
  • Offers in excess of £8,480,000, exclusive of VAT.
  • Net Initial Yield of 5.25%, after Purchaser’s Costs of 6.68%.

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WICKES & TAPI CARPETS, LONGFIELD ROAD, TUNBRIDGE WELLS TN2 3HL

SOLD

Details:

Prime retail warehouse investment.

  • Two, recently constructed, south east retail warehouses.
  • New letting to Wickes Building Supplies Ltd, a secure 5A1 covenant.
  • Wickes occupying under a 20 year FRI lease.
  • Initial rent of £397,800 pa (£18.19 psf on rentalised area).
  • Separate 10 year lease to Tapi Carpets £159,477 pa i.e. at £26.15 psf (8.5 years unexpired).
  • WAULT of 16.7 years.
  • Prime trading location, offering Wickes’ and Tapi’s latest trading formats.
  • Aggregate GIA of 31,520 sq ft (2,928 sq m).
  • Low aggregate initial rental of £557,277 pa.
  • 5 yearly upward only rent reviews to Market Rent (Wickes review capped at 3% pa).
  • Offers in excess of £9,950,000, exclusive of VAT.
  • Net Initial Yield of 5.25%, after Purchaser’s Costs of 6.69%.

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WICKES, BETTS WAY, CRAWLEY

SOLD

Details:

Prime retail warehouse investment.

  • Newly constructed, south east solus retail warehouse.
  • New letting to Wickes Building Supplies Ltd, a secure 5A1 covenant.
  • Wickes to take a 20 year FRI lease.
  • Prime trading location and offering Wickes’ latest trading format.
  • Total GIA of 27,400 sq ft (2,545 sq m).
  • Low commencing rent of £500,000 pa (£22 psf on rentalised area).
  • 5 yearly upward only rent reviews to Market Rent (capped at 3% pa).
  • Offers in excess of £9,370,000, exclusive of VAT.
  • Net Initial Yield of 5.00%, after Purchaser’s Costs of 6.75%.

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31 EASTGATE STREET & 25 EASTGATE ROW NORTH, CHESTER CH1 1LG

WITHDRAWN

Details:

Prime retail investment.

  • Chester is an affluent and historic Cathedral City with over 8 million visitors a year.
  • Situated on the 100% prime pedestrianised thoroughfare of Eastgate Street.
  • Let to Moss Bros Group Plc. until September 2021.
  • Passing rent of £157,000 pa, reflecting £200 ZA.
  • Historic Zone A rental levels reached £255 ZA.
  • Freehold.
  • Seeking offers in excess of £2,950,000, subject to contact and exclusive of VAT, reflecting a net initial yield of 5%, allowing for purchasers’ costs of 6.44%.

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Chester Brochure

FROSTS (CARS) LIMITED, CHICHESTER BY-PASS (A27), CHICHESTER

SOLD

Details:

Freehold motor trade investment.

  • Chichester is an affluent commercial centre with excellent road communications being situated immediately north of the A27 dual carriageway.
  • The property has excellent prominence fronting the A27, the prime location for out of town retailers.
  • Let to Frosts (Cars) Limited, a long established Sussex motor retailer.
  • Unexpired lease term of 9.25 years without break.
  • The passing rent of £156,151pa (£12.81psf) is subject to a minimum uplift in 2021 to £174,526pa.
  • Freehold.
  • Seeking offers in excess of £2,250,000.
  • Attractive net initial yield of 6.53% rising to a minimum 7.3% in 2021.

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WALLIS, 20 NORTH STREET, CHICHESTER

SOLD

Details:

Prime retail investment.

  • Chichester is an affluent cathedral city providing an attractive and popular retail environment.
  • Situated in a prime pitch on pedestrianised North Street.
  • The property adjoins Marks & Spencer.
  • Trading as Wallis, the multiple ladies fashion retailer, on a lease to 2021 (subject to a break option in 2019).
  • Low passing rent of £97,000pa reflecting only £124.50psf Zone A.
  • Freehold.
  • Offers in excess of £1,950,000 reflecting a net initial yield of 4.68%.

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HOTEL PORTFOLIO, ALL LET TO WHITBREAD GROUP PLC

SOLD

Details:

Four freehold Premier Inn hotel investments with combined restaurants. The locations are:

• Welwyn Garden City – Stanborough Road, AL8 6DQ
• Gravesend (Central) – Wrotham Road, DA11 7LF
• Liverpool (West Derby) – Queens Drive, L13 0DL
• Norwich (Airport) – Holt Road, Delft Way, NR6 6BB

  • Let to Whitbread Group Plc (D&B5A1).
  • Each is let for in excess of 20 years expiring on 18 December 2037 with 5 yearly reviews to CPI having a collar and cap of 0% and 4% pa.
  • The next review is December 2017 and we have projected the rents to the current March 2017 CPI levels.
  • 20 year CPI income.
  • The projected rents total £1,759,469 pa.
  • Offers are sought in excess of £34,693,000 for the four properties, either individually or as a package.
  • This produces a net initial yield of 4.75%, (assuming acquisition costs of 6.77%).
  • Individual lot sizes range from £6.9m to £11.7m.

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MONDI, PARKWAY, DEESIDE INDUSTRIAL PARK, DEESIDE CH5 2NS

SOLD

Details:

Long income single let industrial investment.

  • Extensive printing and distribution facility of 174,129 sq ft (16,177 sq m) GIA. Potential for sub-division.
  • Key attractions for tenant include 2.5 MVA power supply with access to nearby port and air freight facilities.
  • Let to a wholly owned subsidiary of FTSE 100 listed Mondi Plc.
  • 12.25 years to lease expiry.
  • Low Principal Rent of £3.59 per sq ft plus “Fit-out Rent” of £49,680 per annum.
  • Total current rental of £674,527 per annum with an estimated reversion to £720,000 per annum in July 2019.
  • Offers in excess of £8,700,000 subject to contract and exclusive of VAT.
  • Net initial yield of 7.27% with reversion to 7.76% in July 2019.

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AUDI VEHICLE REPAIR CENTRE, CHARTHAM, CANTERBURY

SOLD

Details:

South East Industrial investment.

  • Modern high specification industrial property.
  • Low site cover of 25%.
  • Affluent south-east location.
  • Over 8 year’s secure income.
  • 5A1 tenant covenant of Inchcape Estates Limited.
  • Offers in excess of £1.25 million / 6.42% Net Initial Yield.

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2 QUEEN’S SQUARE, ASCOT

SOLD

Details:

Prime South East office investment.

  • Modern Grade A south east office building.
  • Located in the affluent Berkshire town of Ascot.
  • Self contained building totalling 906.83 sq m (9,761 sq f).
  • Fully let producing a rental of £217,981 pa (£23 psf).
  • Proven reversion with an ERV of £246,800 pa (£26 psf).
  • Established rental growth of around 10% pa over the last 4 years.
  • AWULT to expiry 8.5 years (4.7 years to break).
  • Virtual freehold (999 years).
  • Price £3,400,000 which reflects NIY of 6.00%, a reversionary yield of 6.8%.

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DAKOTA PORTFOLIO

SOLD

Details:

Sale & Leaseback of 9 Freehold Retail Warehouse Investments

  • A sale & leaseback portfolio of 9 Wickes retail warehouse investments.
  • Let on new 15 years leases.
  • Wickes Building Supplies Ltd is a secure 5 A1 covenant.
  • Seven units newly developed or reconstructed.
  • Total GIA of 241,415 sq ft (excluding trading mezzanines of 29,552 sq ft).
  • Total initial rental £2,786,580 per annum.
  • Low initial average rent of £11.54 psf, indicating excellent prospects for future rental growth.
  • 5 yearly upward only rent reviews to Market Value.
  • Quoting £43,600,000, exclusive of VAT.
  • Net initial yield of 6%.
  • The preference is for the sale of the portfolio to a single purchaser. However, proposals for part of the portfolio or individual holdings will be considered.

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DW SPORTS FITNESS, NOTTINGHAM

SOLD

Details:

Prime leisure and retail investment.

  • Located in the heart of a major retail cluster which receives in excess of 3 million visitors a year.
  • Modern purpose built leisure and retail unit.
  • Income secured against the national covenant of David Whelan Sports Ltd with a D&B rating of 5 A1.
  • Approximately 16.5 years remaining on the lease with 5 yearly fixed review equivalent to 2.5%.
  • Rental of £633,633 pa equating to £13.96 psf overall.
  • Low site cover of 25% providing opportunity for the creation of an additional unit.
  • Freehold.
  • Offers in excess of £9 million are sought which reflects a NIY of 6.60% rising to 7.47% in 2023 and 8.45% in 2028, assuming purchasers cost of 6.68%).

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COMMERCIAL ROAD – READING

SOLD

Details:

Sale of a prime South East single-let industrial investment

  • Prime South East single-let industrial investment.
  • GIA of 22,410 sq ft (2,081.95 sq m).
  • Let to ISS Facility Services Ltd with a D&B rating of 5A 1.
  • Passing rent of £206,090 pa (£9.20 psf).
  • New 8 year lease with a 3 year tenant only break option (Subject to a 3 month penalty).
  • Asset management opportunities.
  • Offers in excess of £2,870,000, reflecting a NIY of 6.75% (Costs 6.434%).

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TESLA MOTORS – STOCKPORT

SOLD

Details:

Sale of a car dealership investment

  • Prominently situated on the A6 midway between Manchester and Stockport.
  • Buildings of 15,641 sq ft on a site of 1.18 acres.
  • Let to Tesla Motors Ltd on a 15 year lease with 5 and 10 year TBO’s.
  • Five yearly rent reviews geared to RPI, in the range of 1% to 3%.
  • The rent of £140,000 pa reflects only £8.95 psf overall.
  • Offers in excess of £1,765,000, STC, reflecting a NIY of 7.5%.

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BARTLEY POINT – HOOK, RG27 9GX

SOLD

Details:

Sale of a prime multi-let industrial investment

  • Prime multi-let south east industrial investment, located just off J5 of the M3.
  • 8 modern units totalling 116,000 sf (GEA), on a site of 6.9 acres (37% site cover).
  • Total rental income of £824,255 pa, averaging £8.94 psf overall.
  • ERV £835,237 pa reflecting £9.06 psf overall.
  • OIEO £13m, reflecting a NIY of 6.00% (5.8% purchaser’s costs).
  • Disposal of an Industrial Investment.

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TESCO STORES LTD – 32/32A SOUTH STREET, BISHOPS STORTFORD

SOLD

Details

Sale of a freehold retail investment

  • A modern, well configured retail unit with a large yard and customer parking area to the rear.
  • Entirely let to Tesco Stores Ltd until December 2023.
  • The passing rent is subject to an uncapped RPI based rent review in December 2018.
  • Seeking offers in excess of £2,100,000, subject to contract and exclusive of VAT.
  • This price shows a net initial yield of 6.3% forecast to rise to 7.15% in 2018.
Download details - Bishop's Stortford Tesco - Feb16

FORD – OUTER CIRCLE ROAD, LINCOLN, LN2 4HZ

SOLD

Details

Sale of a freehold car dealership investment

  • Prominent corner position on Outer Circle Road, opposite Wickes
  • Ford car dealership totalling 36,306 sq ft on a site of 2.99 acres
  • Let until 30 September 2019 to Pendragon Plc
  • Price £2,480,000, 8% initial

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CIBO, 34 SOUTH STREET – BISHOP’S STORTFORD, CM23 3AZ

SOLD

Details
Sale of a freehold retail investment

  • Good location in the town’s central retailing area
  • Retail unit with residential potential on the upper floors, stpp
  • Low passing rent of £28,000 pa (£40.58 Zone A)
  • Price £334,000
  • Net initial yield of 8%

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FORD – VICARAGE LANE, BLACKPOOL FY4 4ES

SOLD

Details

Sale of a freehold car dealership investment

  • The property occupies a prominent corner location opposite a retail park
  • Ford car dealership totalling 13,126 sq ft (1,219.4 sq m)
  • The site area is 1.87 acres giving a footprint site cover of only 14%
  • Let until 30 September 2019 to Pendragon Plc
  • Price £1,400,000, 8.03% initial

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LAKESIDE RETAIL PARK – SCUNTHORPE, LINCOLNSHIRE, DN16 3UA

Details

Sale of a retail park

  • The scheme comprises 4 well configured retail warehouse units totalling 45,407 sq ft (4,218.45 sq m)
  • Let to strong national retailers including DSG (Currys & PC World), Harveys and Pets at Home
  • AWULT of 11.2 to expiry and 8.9 to break(s)
  • The property produces a total passing rent of £852,340 pa equivalent to £18.77 psf overall
  • Our clients are seeking offers in excess of £12,400,000 to show a NIY of 6.50%

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HONDA MOTOR EUROPE LIMITED – 778-780 CHESTER ROAD, MANCHESTER M32 0QL

SOLD

Details

Sale of a car dealership

  • A recently developed Honda car dealership serving the Manchester conurbation.
  • The property occupies a prime arterial location fronting the A56.
  • The entire property is let to Honda Motor Europe Ltd until April 2031 (16.5 years unexpired).
  • All rent reviews incorporate a minimum uplift based on 2.5% per annum compounded.
  • OIEO £5.08m, stc, to show a NIY of 5.3% rising to 6% in April 2016

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14/16A KING STREET – READING

SOLD

Details

  • Reading is one of the leading retail centres in the UK
  • The ground floor offers 7,780 sq ft of excellently configured sales accommodation
  • The retail unit is let to Mothercare until 2025 at £150,000pa reflecting only £70 Zone A
  • The upper floors are let to The George Hotel until 2054 without break
  • Seeking a price of £3,040,000, subject to contract, to show a net initial yield of 7%

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SOUTH EAST DISTRIBUTION INVESTMENT – 1-3 FARADAY CLOSE, WORTHING, BN13 3RB

SOLD

Details

  • The property occupies a 9.76 acre site in Worthing, close to the A27 dual carriageway.
  • The vast majority of the property comprises a high bay distribution warehouse of 261,543 sq ft.
  • 97% of the total income is from Orion Publishing Group, a 4 A1 D&B rated company.
  • Offers in excess of £14,470,000, STC, to show a NIY of 9%

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UNIT G – ASCOT BUSINESS PARK, LYNDHURST ROAD ASCOT SL5 9FE

SOLD

Details

Prime warehouse investment

  • Modern South East Warehouse
  • New 15 year lease to Howden Joinery Properties Ltd
  • Virtual freehold (999 year lease at a peppercorn rent)
  • Current rent of £97,012 per annum (£12.50 psf)
  • Offers in excess of £1,410,000, reflecting 6.50% Net Initial Yield

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CLEMENTS ROAD – ILFORD ESSEX IG1 1AA

SOLD

Details

Prime Multi Storey Car Park Investment

  • Sale and Leaseback
  • 25 years on FRI terms
  • Long Leasehold from L.B. Redbridge
  • Net rental £165,400 pa, Annual RPI rent reviews
  • Offers invited

BATTELLE UK LIMITED – 29 SPRINGFIELD LYONS APPROACH, CHELMSFORD BUSINESS PARK CM2 5LB

SOLD

Details

Prime B1 & B8 Investment

  • Newly constructed, 20,526 sq. ft. GIA, high specification B1 and B8 laboratory facility
  • 26% site coverage
  • Let to Battelle UK Ltd for 15 years from 16th October 2012 at £164,208 per annum
  • Five yearly, upward only rent reviews geared to the higher of RPI or Open Market Rental
  • Offers in excess of £2.4m reflecting a NIY of 6.47% (assuming Purchaser’s Costs of 5.8%)

THE WESTHAMPNETT CENTRE – WESTHAMPNETT ROAD, CHICHESTER PO19 7HH

SOLD

Details

Freehold investment

  • Prominent location close to Chichester
  • Very well secured income from NHS Property Services Limited
  • Unexpired lease term of over 11 years
  • Major consented residential development site immediately to the rear
  • Offers in excess of £1,600,000 to show a net initial yield of 7.41%

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