Tresham Road, PeterboroughPosted on October 12, 2018
In October 2018 Clay Street completed the acquisition of this reversionary multi-let industrial investment on behalf of Royal London.
- Situated in prime industrial location in close proximity to the A1(M) and Peterborough city centre
- The property comprises 20 units totalling 102,595 sq ft, and a further 14 units sold off on long leaseholds.
- Fully let to 12 tenants on 17 FRI leases with a WAULT of 3.4 years to expiry and 2.0 years to break.
- Current passing rent of £430,650 per annum reflecting a low average rent of £4.18 psf overall.
- Potential reversionary income of £580,011 per annum.
- Planning permission pending to build a further 7 units totalling 36,800 sq ft.
Cortex Partners were advising the vendor; Westbrook Partners. Pricing was £7,538,000 representing 5.36% NIY.