Instructions

THE ALPHABET PORTFOLIO: ASHFORD, BARNSLEY, BLYTH, CHEDDAR & CINDERFORD

SALE

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%

 

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THE ALPHABET PORTFOLIO