TRAVIS PERKINS, APEX BUSINESS PARK, CAMBRIDGE ROAD, BEDFORD

SOLD

Disposal of a trade counter investment.

• Modern Travis Perkins builders’ merchants with additional trade counter units occupied by TP Managed Services and Toolstation.
• Extensive service yard, customer parking and external racking.
• 25,724 sq ft of rentalised GIA – NB: mezzanines not rentalised.
• Developed Site Area – 2.77 acres and a low 21.32% ‘footprint’ site coverage.
• Freehold.
• Overriding FRI lease to Travis Perkins Trading Co Ltd for 15 years.
• Initial rental: £420,000 pa.
• Five yearly, upward only rent reviews to Market Rental, increases capped at 21.67%.
• OIEO £7,160,000 for the freehold, subject to contract and excl. of VAT, NIY: 5.5%, after Purchaser’s Costs of 6.65%.

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