UNIT 1 RAILSIDE RETAIL PARK, SHRIPNEY ROAD, BOGNOR REGIS
Disposal of a retail warehouse investment.
- Recently constructed prime south-east solus retail warehouse.
- Let to Wickes Building Supplies Ltd, a secure 5A2 covenant.
- FRI lease, expiring 9th Feb 2030 (8.66 years).
- Strong trading location and offering latest trading format.
- Total GIA of 25,786 sq ft (2,362 sq m).
- Low passing rental of £290,250 pa (£13.34 psf on specified area).
- Upward only rent review to Market Value (increase capped at 3% pa).
- OIEO £4,000,000, STC and exclusive of VAT.
- Net Initial Yield of 6.81%, after Purchaser’s Costs of 6.54%.