Park Place Retail are marketing this regional retail warehouse portfolio comprising 3 properties.
2 x freehold properties and 1 x leasehold property (86 years unexpired), with a portfolio WAULT to lease expiry of 5.7 years (5.1 years to break), with a total net passing rent of £1,967,596 per annum, reflecting a low average rental rate of £10.79 per sq ft.
Opportunity to purchase a diverse fully let portfolio at a low capital value of £126 per sq ft where key tenants include Wickes, B&Q, Pets at Home, Iceland and Costa, accounting for 70% of the portfolio income. 93% of the rental income is apportioned A1 or A2 D&B rated covenants.
Offers requested in excess of £23,020,000, providing a capital value of £126.00 per sq ft and a net initial yield of 8.00%, based on aggregate purchaser’s costs of 6.82%.
For further information, please contact:
Paul Wilkinson | 07770 585 313 | paul.wilkinson@parkplaceretail.co.uk
Graham Lind | 07917 730 051 | graham.lind@parkplaceretail.co.uk