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