Investment – Howdens Sold
On behalf of clients Chad Investments, we have recently sold a warehouse(trade counter unit). The property is a single storey prominent warehouse fronting Picow Farm Road.
The property is circa 21,500 sq ft and was sold on the following assumptions for a yield of circa 8%
- 15 year FRI lease to Howdens
- 5 yearly rent reviews
- Tenant break at year 10
- Current rent of £32,340 per annum
- Stepping to £64,680 per annum (from 22 March 2018)
- Schedule of Condition
