Opportunity to acquire a well let industrial distribution investment, underwritten by development value. Strategically located on Wrexham Industrial Estate – one of Europe’s largest industrial estates.
Unbroken 10-year lease (9.25 years remaining) with annual fixed rental uplifts, to Shop Direct Home Shopping Limited (The Very Group) – outstanding covenant with a D&B rating of 5A1. The property comprises 2 detached industrial warehouse facilities, totalling 711,633 sq ft on 45.9 acres, providing a very low site density of just 36%.
The purchase price of £29.545M reflects a NIY of 5.75%, with a very low capital value of £41.52 per sq ft.