NEWS

Waitrose

Freehold Supermarket and car park Investment Disposal - Bromsgrove

Mark Atkins Associates has successfully disposed of a long income supermarket and car park investment in Bromsgrove town centre on behalf of a property company client. The supermarket extends to 9,009 sq ft over ground and first floors, and the adjoining car park extends to 86 spaces. The supermarket is let to Waitrose Ltd and the car park to Bromsgrove District Council.  Both leases expire in March and April 2032 respectively, with 5 yearly reviews to compounded CPI collared at 1% and capped at 3% per annum.  The total income is £210,064 per annum. The property was sold for £4,150,000 reflecting a net initial yield of 4.75%.

Atlas Real estate acted for the purchaser, a private investor.

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Hotel, Coffee Shop and Fast Food Investment Acquisition - Wrexham

Family Trust clients of ours have completed the acquisition of this Budget Hotel and Fast Food investment situated adjacent to the A483 dual carriageway in Wrexham, North Wales. Occupying a site of some 1.5 acres, the property comprises a 32 bed hotel, a Starbucks Coffee Shop and Subway Food to Go unit all let to Travelodge on an FR&I lease expiring in August 2044 at a current rent of £128,382 pa with RPI reviews.

Kimmre acted for the vendor in the transaction.

Mark Atkins _Droitwich

Industrial Investment Acquisition – Droitwich

Property Company clients have acquired this recently completed industrial investment on Salwarpe Business Park in Droitwich. The unit, which sits next to Toolstation and close to Screwfix, REM Systems and Black Pear Electrical, extends to 3,400 sq ft and is occupied by Paintwell Ltd on a new 10 year lease at a current rent of £35,679 pa. The purchase price of £651,000 reflects a net return of 5.21%.

Atlas Real Estate acted for the vendor, Commercial Buildings Bromsgrove Ltd, in the sale

Atkins Cradley_Heath

Industrial Investment Disposal – Cradley Heath

Demonstrating the popularity of small industrial investments we have sold the virtual freehold interest in this modern industrial unit to a private investor at a figure reflecting a net return of 5.1%. The unit, which extends to 4,800 sq ft, is occupied by Key Safety Logistics Ltd on an FR&I lease expiring in March 2036 at a current rent of £24,600 pa.

AP Investment acted for the purchaser.

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Costa Drive Thru Investment Acquisition – Llanelli

Property company clients have recently completed the acquisition of this new coffee shop and drive thru in Llanelli, South Wales by way of a simplified forward funding structure. Prominently situated adjacent to the recently completed Aldi supermarket and opposite the 450,000 sq ft Trostre Retail Park, the unit extends to 2,200 sq ft with 44 on site car spaces on a site of c 0.75 acres. Costa Ltd occupy under the terms of an unbroken 15 year lease at an initial rent of £92,000 pa which is subject to RPI uplifts 5 yearly.

Knight Frank acted on behalf of the developer, Peveril Securities.

MAA Wakefield

Office Acquisition – Wakefield

As part of a rationalisation programme post COVID, clients ours have opened a new office in Calder Park, Wakefield. The unit, which extends to 2,000 sq ft over 2 floors with 7 car spaces, forms part of a well established business park situated adjacent to junction 39 of the M1 to the west of Wakefield town centre. A new 10 year lease was entered into at a starting rent of £23,800 pa.

Vickers Carnley acted for the landlord in the transaction.

Strudwater

Lease Renewal - Stonehouse Stroud

Acting for property company clients our landlord and tenant team have recently completed negotiations for the renewal of a lease of a 27,000 sq ft industrial unit on Stroudwater Business Park, Stroud.

Given the location close to junction 13 of the M5, the quality of the building and the strength of the industrial market we secured a 30% uplift in the rent passing.

Emersons Green Photo

Freehold Children’s Nursery Funding – Emersons Green, Bristol

Clients of ours have recently completed the acquisition, via a traditional forward funding, of a children’s nursery situated adjacent to a recently completed 97 bed Travelodge Hotel and a Costa Drive Thru in Emersons Green to the north of Bristol city centre.

The property, which extends to 5,920 sq ft with 23 car spaces, is let to Kenmare Estates Ltd, with a guarantee from Midcounties Co-operative Ltd on a new 25 year lease without break. The developer, Hinton Group, was represented by Atlas Real Estate in the transaction.

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Industrial Land Sale – Avonmouth, Bristol

Acting for property company clients we have recently completed the sale of a plot of industrial land on Severn View Industrial Park in Avonmouth for £550,000. The fenced and floodlit 1 acre site benefits from an extensive frontage to the main estate road and it was previously used for open storage. Russell Property Consultants in Bristol acted jointly with us in the sale.

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