11 Shannon Way, Tewkesbury, Gloucestershire, GL20 8ND
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Atlas Real Estate has recently acted for a UK institution on the sale of 11 Shannon Way, Tewkesbury.
The property sits in a prime location in close proximity to Junction 9 of the M5 motorway and comprises a warehouse totalling 19,930 sq.ft on a site of 0.83 acres.
The property is let to Solstice Distribution Limited with a guarantee from Eqinox Maintenance Limited for a term of 10 years with effect from 17th December 2020. There is a tenant only break on expiry of the 5th year of the term and the current passing rent is £135,000 per annum (£6.77 per sq.ft).
The property was sold for a price of £2,220,000 (Two Million Two Hundred and Twenty Thousand Pounds) representing a net initial yield of 5.72% assuming usual costs of purchase.
Atlas Real Estate represented the UK institution and Simon Bennett at JLL Bristol represented the purchaser, Brymain Investments Limited.
