Industrial

Kingsbridge Centre, Sturrock Way, Peterborough PE3 8TZ

 

Price: £11,575,000 - Initial Yield:6.00%

Date: Q3 2019

Acting on behalf of Eskmuir Properties we advised on the sale of this highly attractive, multi-let freehold industrial investment to Cambridgeshire County Council for £11.575m, reflecting a net initial yield of 6.00% and a capital value of £72 per sq ft.

The Kingsbridge Centre is strategically located next to Junction 17 of the A47 which in turn provides direct access to the A1(M) and the A14. The property comprises a modern terrace of five industrial units totalling 160,510 sq ft (14,911.87 sq m). Multi let to two tenants including E-Leather Ltd and Finning (UK) Ltd generating a rental income of £740,854 per annum (average passing rent of £4.62 per sq ft). The property benefits from an AWULT of 15 years to expiry and 9.4 years to break. The site extends to 4.01 hectares (9.92 acres) providing a low site coverage of 34%. The property is used by E-Leather as their global Headquarters and main distribution facility.

Contact

Simon Lewis

Tel: 020 7493 3330
Mob: 07831 527 960
slewis@lewisellis.co.uk

David Kos

Tel: 020 7493 3330
Mob: 07709 813267
dkos@lewisellis.co.uk


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