Stobart Biomass Products Ltd, Greaseborough Depot, North Drive, Rotherham, S60 1RLMake an enquiry
Atlas Real Estate has recently completed the acquisition of biomass storage facility in Rotherham on behalf of LXi REIT plc.
The property comprises a six acre site which as been recently converted to a waste wood storage facility servicing the Templeborough Biomass Plant in Rotherham.
The property is let to Stobart Biomass Products Ltd, guaranteed by Stobart Group Ltd, for a term of 20 years from February 2018. The commencing rent is £225,000 per annum reviewed 5 yearly to RPI collared at 1.5% and capped at 4% per annum compounded.
The property was acquired from Stobart Group, represented by Roebuck Asset Management, for £3,400,000 which reflects a net initial yield of 6.12%.