Howdens, King Alfred Way, Battledown Trading Estate, Cheltenham, GL52 6PQMake an enquiry
Atlas Real Estate has recently completed the purchase of the freehold interest in an industrial unit on Battledown Trading Estate, Cheltenham, on behalf of a private investor.
The property comprises a recently refurbished two bay warehouse constructed in the early 1980s totalling 1,748.99 sq.m (18,826 sq.ft).
The property is let on a 15 year lease from 16 February 2010 to Howden Joinery (Properties) Ltd, guaranteed by Howden Joinery Ltd. The lease is held on full repairing and insuring terms subject to 5 yearly upward only reviews. The current rent is £80,000 per annum.
The purchase price of £1,090,000 reflected a net initial yield of 6.94%.