Mandarin Portfolio – Blackpool, Colchester, Hereford, Ipswich, Nottingham and Swansea.Make an enquiry
Franck Steier Price has recently completed the purchase of a portfolio of Booker cash and carry units for Threadneedle Property Investments.
The portfolio comprises six properties located in Blackpool, Colchester, Hereford, Ipswich, Nottingham and Swansea.
The properties are all let to Giant Booker Ltd on FRI terms expiring on 27th February 2030 subject to tenant break options on 27th February 2025. The total rental income is £2,089,957 per annum. Rent reviews are 5 yearly to the higher of open market rental value or 2.5% per annum compounded.
The portfolio was purchased for £25,075,000 which reflected a net initial yield of 7.88% assuming costs of purchase of 5.80%.
CBRE represented the vendor.