Property overview

Invictus Portfolio – Birmingham, Camberley, London and Stockton on Tees

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Dec 2014

Franck Steier Price and Barber Wadlow have recently completed the acquisition the Invictus Portfolio on behalf of the Charities Property Fund.

The portfolio comprises four modern car dealerships located in Birmingham, Camberley, London and Stockton on Tees.  The dealerships operate under the marques of Audi (Camberley and Stockton), SEAT (Birmingham) and Skoda/VW Commercial Vehicles (London).

The properties are all let to Volkswagen Group UK Ltd with a weighted average unexpired lease term of over 13 years.  The total income on the portfolio is £1,027,318 per annum.

The portfolio was acquired for £15,830,000 which reflected a net initial yield of 6.13% rising to 6.38% in 2017 and 6.65% in 2022 following fixed increases in the Stockton lease.

The vendor, Standard Life, was represented by GVA.