A prime modern retail warehouse unit of 54,096 sq ft purpose built to Wickes’ specification.
Located in Swindon, an affluent southern town with a buoyant economy and a rapidly expanding population.
Let to Wickes for a further 14.5 years.
Wickes Building Supplies Limited is a 5A1 covenant.
The passing rent of £899,589 per annum reflects £17.00 per sq ft.
Wickes are trading extremely well from the store.
Our client is seeking offers in excess of £14,040,000 (Fourteen Million and Forty Thousand Pounds), subject to contract and exclusive of VAT, for their freehold interest in the property.
A purchase at this level would show an attractive initial yield of 6.00%, net of purchaser’s costs at 6.80%.