Property overview

HellermannTyton Group Plc, Seven60, Nectar Way, Pineham, Northampton, NN4 9BX

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£9,190,000
Nov 2021

The property is strategically located adjacent to Junction 15A of M1 Motorway on Pineham Business Park, one of the UK’s premier distribution locations.  The property comprises a new build high specification distribution unit extending to 63,484 sq.ft.  The property is let to HellermannTyton Data Ltd, guaranteed by HellermannTyton Group Plc on a new 10 year lease without break.  The guarantor is a global manufacturer of cable management products with a Dun & Bradstreet rating of 5A1.  Commencing rent £441,214 per annum (£6.95 per sq.ft).  Full repairing and insuring lease with 5 yearly reviews to the higher of Open Market Value or RPI, collared at 1% and capped at 3% per annum compounded.  Offers sought for the freehold interest in excess of £9,190,000 which reflects a net initial yield of 4.50%.