GSF Car Parts Ltd, 26 Knutsford Way, Chester, CH1 4LT
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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.
