Volvo, Manchester Road, Bolton, BL3 2NZ
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Atlas Real Estate has recently acted on the disposal of a prime car dealership investment in Bolton, on behalf of a property company client.
The property is prominently situated on Manchester Road, Bolton’s primary trade counter, car dealership and retail warehouse pitch.
The property comprises a modern flagship Volvo car dealership extending to 21,427 sq.ft on a large site of 2.30 acres.
The property is let to Volvo Car UK Ltd for a further 16.25 years at a rent of £320,000 per annum. The lease is held on FRI terms with 5 yearly reviews to RPI collared at 1.5% and capped at 3.5% per annum compounded.
The property sold for £4,950,000 which reflects a net initial yield of 6.07%.
The purchaser was a private investor represented by Roger Parker & Company.
