Single Let Distribution Warehouse Investment
The property is locatedon Victoria Business Park which is situated to the north west of Roche adjacent to the A30 which isthe main arterial route throughCornwall. The estate incorporates a variety of industrial and food distribution businesses and is popular due to its accessibility. Surrounding occupiers on the estate include Ocean Fish, Mercedes, Conway Bailey Transport, Brakes Fresh FoodsandM Store Self Storage.
A new purpose built, high specification parcel depot warehouse Located on Victoria Business Park which offers excellent accessibility Pre-let to DPD Group UK Ltd (D&B 5A1 rating) New unbroken 25 year FRI lease Five yearly upward only rent reviews on a fixed 2.25% a year compounded basis Freehold Site Area of 3.19 hectares (7.89 acres) with only 17% site coverage Practical completion due 13 October 2017, the property will extend to approximately 60,009 sq ft (5,575 sq m) Estimated intial rent £489,825 per annum (£8.15 per sq ft) Offers sought in excess of £8,600,000 (Eight Million, Six Hundred Thousand Pounds). Subject to contract and exclusive of VAT, reflecting a Net Initial Yield of 5.34% assuming acquisition costs of 6.68%