Wilkinson Williams

Press Release

LaSalle Acquires Wickes, Moor Lane Exeter

Clients of LaSalle Investment Management purchased the newly built Wickes unit from Location 3 Properties Ltd for a price of £8.1m reflecting a net initial yield of 5.7% and an equivalent yield of 6.5% based upon the guaranteed fixed rental uplift at first review. The property was pre-let to Wickes Building Supplies Limited for a period of 25 years from practical completion at a rent equating to £15.00 per sq ft subject to fixed increases at the first and second rent reviews at 3% per annum compound. The unit extends to approximately 31,550 sq ft together with an Outdoor Project Centre of approximately 10,000 sq ft and surface car parking for 150 customer cars. Wilkinson Williams acted for LaSalle.

For further information please contact Drew Moore

d.moore@wilkinsonwilliams.co.uk