Unit B, Swift Park, RugbyMake an enquiry
Atlas Real Estate has recently concluded the acquisition of this modern distribution warehouse investment on behalf of IM Properties.
The property located on Swift Park, comprises a unit totalling 4,198.29sq.m (45,189 sq.ft) and is let to H&K Equipment Limited for a term of 25 years from 25 March 1990 at passing rent of £214,210 per annum (£4.75 per sq.ft).
The purchase price was £2,705,000 representing a net initial yield of 7.49%. Commenting on the transaction, Andrew Franck-Steier of Atlas Real Estate said “This investment was on the market for some considerable time and having been under offer previously at 6.25% IM Properties monitored the situation and were subsequently able to offer the vendor certainty”.
Atis Real represented the vendor F&C Property Asset Management
Atlas Real Estate represented the purchaser IM Properties