Instructions
THE ALPHABET PORTFOLIO: ASHFORD, BARNSLEY, BLYTH, CHEDDAR & CINDERFORD
ALL SOLD
Disposal of a five virtual freehold trade counter investments.
- A portfolio of five Trade Counter units with extensive yards and low average footprint site coverage: 11.43%
- Total GIA 35,407 sq ft (3,289.3 sq m), incl. mezzanines/ first floors of 3,160 sq ft on a total site area of 6.47 acres
- Well established trading units within their catchments
- Tenant – Travis Perkins (Properties) Ltd – D&B 5A2
- Occupier – Either Travis Perkins Trading Company Ltd or Keyline Civils Specialist Ltd (Travis Perkins plc subsidiaries)
- Identical FRI leases for 11.25 years, expiring 30th November 2031 (subject to Schedules of Condition)
- Five Virtual Freeholds – 200-year leasehold interests from 2006 at a peppercorn rental
- Option to purchase Freeholds for £1 each
- Low total commencing rent of £311,774 pa, payable monthly (topped up by vendor to Dec 2021)
- Staggered upward only Rent Reviews throughout the lease term to the higher of two thirds of Market Rent or a minimum of 3% pa. (compound increase 15.93%)
- Aggregated estimated Market Rent: £372,000 pa
- Offers in excess of £5,500,000 exclusive of VAT
- Net initial yield: 5.32% assuming 6.61% Purchaser’s Costs
- Yield profile: assuming minimum rental increase
Income Yield
Net Initial Yield £311,774 pa 5.32%
Minimum Rev. Yield – 1st Dec 2022 £324,340 pa 5.53%
Minimum Rev. Yield – 1st Dec 2025 £349,395 pa 5.96%
Minimum Rev. Yield – 1st Dec 2026 £361,430 pa 6.16%
Minimum Rev. Yield – 1st Dec 2027 £375,999 pa 6.41%
Minimum Rev. Yield – 1st Dec 2030 £405,044 pa 6.91%
Net Equivalent Yield – 6.45%
THE ALPHABET PORTFOLIO