Johnson Controls

Property description

• A brand new 151,000 sq ft high specification distribution warehouse located on Estuary Business Park, Speke, South Liverpool. The property was well let to Johnson Controls Automotive (UK) Ltd for a term of 15 years (10 year break) from April 2014 at a rental of £813,487 per annum (£5.36 per sq ft).
• As well as handling the letting, we were also instructed to dispose of the investment. This involved the preparation of a detailed marketing brochure and information pack which was then presented to potential buyers and widely circulated into market to generate a significant
  amount of interest.
• During this process detailed back up information on the local area, economy and occupational market was provided to some investors who were perhaps relatively cautious due to a lack of knowledge of the area. After an intense bidding period the property was placed under offer and sold F&C REIT at a price of £11,900,000 reflecting a net initial yield of 6.45%.
• The deal was executed in circa three months, demonstrating our ability to successfully market a prime distribution investment while providing providing the necessary occupational market backup to help generate strong interest and confidence in the asset.

Location

Johnson Controls, Estuary Business Park, Speke