Sytner Lexus, Abbey Lane, Leicester, LE4 0DZ
Franck Steier Price has recently completed the sale of a modern car dealership investment on behalf of OLIM which was located in a highly prominent position on the A6 just outside Leicester city centre.
The property comprises 2 separate facilities, the showroom fronting onto Abbey Lane and then a separate workshop / warehouse to the rear totalling 18,512 sq.ft
The property is let to Sytner Properties Ltd with guarantee from Sytner Group Limited for a term of 20 years from 25th December 2003. The passing rent is £266,633 per annum.
The sale price of £3,750,000 reflected a net initial yield of 6.68% after purchaser’s costs of 5.80%.
The purchaser was a private investor represented by WHY.