AAK Foods Car Park Site, Astmoor Road, Warrington, WA7 1PY
Tenant: AAK (UK) Limited
Size: 1.79 acres
Value: £350,000
Yield: 5.46%
A fully surfaced and serviced rectangular site extending to 1.79 acres and located in a prominent roadside position fronting onto Astmoor Road in the established Astmoor Industrial Estate, Runcorn. The property is currently let to the undoubted covenant on AAK (UK) Limited (D&B Rating 5A 1) on a 10 year lease expiring in September 2024, subject to an option to break in September 2019.
The low passing rent of £20,000 pa reflects just £11,173 per acre and is subject to a fixed uplift in September 2019 to £25,000 pa (£13,966 per acre). We believe the site to be highly reversionary with an ERV of £35,800 pa (£20,000 per acre). Furthermore the purchase price reflect an low land value of just £195,530 per acre.
