Property description
Opportunity to acquire a modern highly reversionary cross docked distribution warehouse investment opportunity.
The property is let to an outstanding covenant, (with a Barclays Bank guarantee) and has 5.94 years to expiry.
The property comprises a 210,191 sq ft unit at a very low passing rent of £1,112,585 pa (£5.29 psf) with a reversionary rent of £1,418,789 pa (£6.75 psf)
There is an open market rent review on 7th November 2024.
The purchase price of £18.95M reflects a NIY of 5.50%, RY of 7.01% and a low CV of £90 psf.
