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.
Client: CDP Ltd
Type: Industrial Investment Sale
Tenancy: Let to Johnson Controls Automotive (UK) Ltd – 10 years term certain