Orlando Portfolio - Withdrawn
Two Newly Constructed Retail Wickes Warehouses
A portfolio of two Wickes retail warehouse properties
Both properties were developed in 2016 and offer the latest Wickes trading format
Strong trading locations in Norwich and Corby with favourable local demographics
Total GIA of 45,233 sq ft (excl. trading mezzanines)
Both properties are held freehold
Secure income from Wickes Building Supplies Ltd which is a 5A1 covenant
Both properties let on 15-year leases from March 2017 offering an overall WAULT of 13.50 years
Total rent of £551,250 per annum equating to a low overall rent of £12.19 per sq ft
We are seeking offers in excess of £9,850,000 (Nine Million Eight Hundred and Fifty Thousand Pounds) subject to contact and exclusive of VAT. This equates to a Net Initial Yield of 5.25% and a capital value of £217 per sq ft.
A sale of the portfolio as a whole is preferred, although a sale of part or individual holdings will be considered.
|Location:||Norwich and Corby|