GSF Car Parts, 26 Knutsford Way, Sealand Industrial Estate, Chester, CH1 4LT
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Please see below and investment summary of the above property.
- Prime trade park and warehouse investment
- Very established trade counter location in Chester
- The property comprises a secure, modern, trade park warehouse unit with integral 2 storey offices, and six level access loading doors, leading to a yard with a depth of 43m
- Total Gross Internal Area of 24,634sq. ft. (2,288.57 sq. m.)
- Site area of 1 acre (0.40 Ha)
- The property will be sold by way of sale and leaseback to GSF Car Parts Limited, one of the UK’s leading motor factor businesses with over 190 branches in the UK.
- The property will be let for a term of 10 years on completion of sale
- Lease subject to five yearly rent reviews to the higher of open market or CPI, collared and capped at 1% and 3% per annum compounded
- Rent of £234,000 per annum (low average of £9.50 per sq. ft.)
- Freehold
We are instructed to seek offers in excess of £3,350,000 (Three Million Three Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 6.50%, subject to purchaser’s costs of 7.44%.
Atlas RE has recently sold the above industrial trade centre investment on Sealand Industrial Estate, Chester by way of a sale & leaseback on behalf of GSF Car Parts Limited.
The modern trade counter and distribution unit totals approximately 24,600 sq.ft and is let for a term of 10 years at a passing rent of £234,000 per annum. There is a rent review at year 5 to the higher of open market or CPI 1&3% collar & cap.
The purchase price was £3,275,000 which represents a net initial yield of 6.65% assuming usual sale & leaseback costs.
We were delighted to be instructed by GSF Car Parts as part of a disposal of their remaining freehold estate.
GSF Car Parts Ltd were advised by Atlas Real Estate and Adcocks Solicitors on the sale. The purchaser, a private North West property company were advised by CBRE Manchester.
