Property overview

Asda Express, Murdock Road, Pride Park, Derby, DE24 8ZY

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£2,700,000
Oct 2024

Please see below details of the above highly secure, long-income roadside investment opportunity

  • Located on Pride Park, Derby’s most established commercial location
  • Prominently positioned off the A6 and benefitting from dual visibility
  • Occupiers on Pride Park include Rolls Royce, VW, Mercedes-Benz, Ford, Seat, Volvo, Audi, Lexus, Toyota, Derby County FC, and Derby Arena
  • Newly developed property comprising a petrol filling station and drive-thru outlet on a site of 1.77 acres
  • Let to the excellent covenant of Asda Express Ltd
  • 26.9 years unexpired
  • Passing rent of £165,000 per annum
  • 5 yearly upward only reviews to RPI collared at 2% and capped at 4% per annum compounded
  • Petrol filling station and drive-thru are 100% underpinned by vacant possession values.

We are instructed to seek offers in excess of £2,700,000 (Two Million, Seven Hundred Thousand Pounds), subject to contract, which reflects a net initial yield of 5.74%, after purchaser’s costs of 6.42%.

Based on RPI to date since lease commencement and forecasting 3% per annum going forwards, a purchase at this price would represent an attractive reversionary yield of:

  • 2026 – 6.82%
  • 2031 – 7.91%
  • 2036 – 9.17%
  • 2041 – 10.63%
  • 2046 – 12.32%