Volvo, Bluebell Way, J31a M6, Preston, PR2 5PZ
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Atlas Real Estate has successfully disposed of a prime, long income, Volvo car dealership investment in Preston on behalf of a private property company.
The property comprises a new build, prime car dealership investment located in the established car dealership area of Preston, 3 miles north east of the city centre. The property occupies an extremely prominent position overlooking Junction 31A of the M6 motorway and adjacent to the new Inchape flagship Jaguar Land Rover dealership.
The property is let to Rybrook Cars, one of the UK’s largest independent car franchises, for a term of 20 years, with Index-linked rent review clauses. The current passing rent is £300,000 per annum.
The property was sold for £5,625,000 reflecting a net initial yield of 5.00%.
Knight Frank acted for the purchaser, a private investor.
