Instructions

HAMBRIDGE ROAD, NEWBURY RG14 5EA

UNDER OFFER

Details:

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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