Property overview

Smyths Toys, Alto 415, Lymedale Business Park, Newcastle-under-Lyme, ST5 9QH

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£54,850,000
Mar 2022

The property is situated on Lymedale Business Park in Newcastle-under- Lyme, just 5.9 miles (9.4 km) and 7 miles (11.2km) from Junctions 15 and 16 of the M6 Motorway respectively. Developed in 2007, the property comprises a high specification distribution warehouse totalling 414,876 sq. ft. (38,542.07 sq. m.) on a site extending to 20.5 acres, with a maximum yard depth of 110m. The property is let to Smyths Toys UK Limited on a new term of 15 years from completion of contracts. The passing rent will be £2,489,256 per annum, which equates to £6.00 per sq. ft. The rent is subject to 5 yearly reviews and shall be on the basis of either open market or CPI capped at 3% and collared at 1% compounded annually. Offers sought for the freehold interest in excess of £54,850,000, subject to contract, which reflects a net initial yield of 4.25%.