GSF Car Parts, Unit 1 Caxton Estate, Printing House Lane, Hayes, UB3 1AP
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Atlas RE has recently sold the above industrial trade centre / warehouse investment on Printing House Lane, Hayes by way of a sale & leaseback on behalf of GSF Car Parts Limited.
The unit totals approximately 17,800 sq.ft and is let for a term of 10 years at a passing rent of £276,000 per annum. There is a rent review at year 5 to the higher of open market or CPI 1&3% collar & cap. There are mutual rolling landlord and tenant breaks from Day one subject to 12 months notice
The purchase price was £3,950,000 which represents a net initial yield of 6.50% 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 London property company were advised by Patrick Conroy of Kimble Estates Limited.
