Royal Mail, Swan Valley Distribution Park, Northampton, NN4 9DR
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Royal London Asset Management, represented by Atlas Real Estate, has recently completed the off market acquisition of a high specification distribution and mail sortation facility at Swan Valley Distribution Park, Northampton.
The property comprises a 2010 built cross dock distribution facility extending to 202,552 sq.ft on a site of 18.39 acres.
The property is let to Royal Mail Group Ltd for a term of 20 years expiring on 14 April 2030. The lease is held on full repairing and insuring terms subject to 5 yearly upward only reviews to open market value. The current rent is £1,309,048 per annum and the next review is due on 15 April 2020.
The property was acquired for £26,400,000 which reflects a net initial yield of 4.64%.
The vendor, Aviva Investors, was represented by BSB.
