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For Sale£3,275,000.00

Prime Dealership Investment

General Retail, Showroom, Retail, Other Property Types & Opportunities , 1 - 12792 Sq Ft
Property type: General Retail, Showroom, Retail, Other Property Types & Opportunities
Tenure: Investment Opportunity, For Sale Freehold
Size: 1 - 12792 Sq Ft
Price: £3,275,000.00
Location: Peugeot, Lysander Road, Cribbs Causeway, Bristol, BS10 7UG

- A rare opportunity to acquire a prime Peugeot dealership, one of the UK’s top selling car brands in the market.
- Located in one of the UK’s premier out of town retail destinations.
- The property occupies a very prominent site at the heart of Cribbs Causeway, Bristol.
- Very limited land available in the vicinity of Cribbs Causeway for further development.
- Established dealership location with other brands operating nearby including Honda, Audi, Mercedes, BMW, Mini, Ford, Nissan, Bentley, McLaren and Rolls Royce.
- Large catchment population in a key territory for the manufacturers.
- The property comprises a purpose built dealership facility comprising 12,792 sq ft (1,188 sq m), with a very low site density of only 18%.
- Strong alternative use value subject to planning.
- Let to the strong covenant of Peugeot Motor Company Plc (D&B; 5A1) until June 2027 providing an unexpired term in excess of 8.5 years. Low current passing rent of £200,000 per annum, reflecting a low overall rent of £15.63 psf.
- Potential rental uplift from the 2017 rent review which is outstanding.
- We are instructed to seek offers in excess of £3,275,000 (Three Million Two Hundred and Seventy Five Thousand Pounds), subject to contract and exclusive of VAT, a purchase at this level reflects an attractive Net Initial Yield of 5.74%, assuming purchasers costs at 6.46%.
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