Instructions

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

SOLD

Details:

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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