The property comprises a substantial site providing a modern detached warehouse distribution unit, together with a modern three storey headquarters office building. The two buildings were let to separate tenants with differing unexpired terms. The office element was slightly compromised as the property was over rented with only three years unexpired and was not situated in a recognised office location.
As such the property had to be presented to the market in the correct manner to highlight the various attributes of the property, particularly highlighting the quality and specification of both buildings.
The property was sold to Karlin for a price of £6,100,000 reflecting a net initial yield of 11.43%%
The deal demonstrates B8RE’s ability to correctly present a slightly more complex investment sale to the market and complete the sale of a slightly compromised asset.
135,461 sq ft
Let to Capgemini UK plc and Symmonds Transport Limited