Pentagon Vauxhall, Peugeot & Renault, Belton Road, Loughborough, LE11 1NE
sold
Atlas Real Estate has recently completed the disposal of a modern Vauxhall dealership in Loughborough on behalf of a private investor.
The property comprises a modern car dealership property on a self contained site within the main dealership location in the town. There are a total of 59 car display spaces to the front and side along with parking for an additional 56 cars.
The property comprises a total floor area of 15,277 sq.ft.
The property is let to Motus Group (UK) Limited for a term of 15 years from 2nd September 20
Atlas Real Estate has recently completed the disposal of a modern Vauxhall dealership in Loughborough on behalf of a private investor.
The property comprises a modern car dealership property on a self contained site within the main dealership location in the town. There are a total of 59 car display spaces to the front and side along with parking for an additional 56 cars.
The property comprises a total floor area of 15,277 sq.ft.
The property is let to Motus Group (UK) Limited for a term of 15 years from 2nd September 2019 at a passing rent of £165,000 per annum (£10.80 per sq.ft). There is a tenant only break option in September 2029. Rent reviews are 5 yearly on an open market basis.
The property was acquired by Charnwood Borough Council who were unrepresented in the transaction for a price of £2,300,000 which reflects a net initial yield of 6.75%.
Commenting on the deal, Andrew Franck-Steier said that the deal progressed smoothly given the uncertainty of the lockdown period and general apathy in the car dealership investment market
19 at a passing rent of £165,000 per annum (£10.80 per sq.ft). There is a tenant only break option in September 2029. Rent reviews are 5 yearly on an open market basis.
The property was acquired by Charnwood Borough Council who were unrepresented in the transaction for a price of £2,300,000 which reflects a net initial yield of 6.75%.
Commenting on the deal, Andrew Franck-Steier said that the deal progressed smoothly given the uncertainty of the lockdown period and general apathy in the car dealership investment market
