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Knight Frank sells CHEP UK Ltd warehouse at Central Park, Avonmouth

Knight Frank sells CHEP UK Ltd warehouse at Central Park, AvonmouthActing on behalf of Delta Properties, the Bristol investment team of Knight Frank has sold the CHEP UK Ltd warehouse at Central Park, Avonmouth for £8 million, reflecting a net initial yield of 7.75%.

The detached warehouse unit of 48,525 sq ft, which sits on an 8 acre self-contained site, has been purchased by a private investor.

The property is let to CHEP UK Ltd on a full repairing and insuring lease for 15 years, with a tenant break option in year 10, from 13th April 2012.

Nick Thurston, Associate at Knight Frank, said: “This transaction demonstrates there is strong appetite from private investors for good quality, stable, well-let assets situated in core locations”.

DEAL INFORMATION:
Address                               CHEP UK Ltd, Central Park, Western Approach, Bristol, BS35 4GG.
Sector                                     Investment
Price                                        £8 million
Yield                                        7.75%
Tenure                                    Freehold
Total Area                             48,525 sq ft
Vendor                                   Delta Properties
Purchaser                              Private Investor
Vendor’s agent                   Knight Frank LLP
Vendor’s solicitor              Wragge & Co
Purchaser’s agent              Jeremy Rubin & Co
Purchaser’s solicitor         Neil Myerson LLP

Posted by The Editor (wantspacegotspace) on 3rd September 2013

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