Landsdon Unit, Arrow Valley, Redditch, B98 0FY
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£6,340,000
Dec 2010
Atlas Real Estate have recently completed the acquisition of a distribution warehouse investment on behalf of Threadneedle Property Investors.
The property is located on Arrow Valley a modern distribution park which was developed by Quintain Estates and Development Plc. The unit extends to 110,280 sq.ft with 10.10 metre eaves.
The property is let to Landsdon Limited with a guarantee from SIG Trading Limited (5A1 D&B rating) for a term of 15 years with effect from 18th September 2006. The passing rent is £513,000 per annum exclusive.
The purchase price of £6,340,000 reflects a net initial yield of 7.65%, after purchaser’s costs of 5.75%. GBR Phoenix Beard represented the vendor, Quintain Estates and Development Plc.
