SYTNER BMW, LENTON LANE, NOTTINGHAM
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%.