Stockport Volvo

Status: Sold

Terms: Sold

Price: £3,600,000

Yield: 6.12%

Volvo, 1 St Marys Way, Stockport SK1 2HY

  • Recently completed, state of the art facility situated within a prime dealership location
  • Prominently situated fronting Portwood Roundabout & Junction 27 of the M60 motorway
  • Purpose built Volvo car showroom comprising a total of 15,650 sq ft (1,454 sq m) of accommodation
  • New 20 year lease, with 5 yearly rent reviews linked to the Retail Price Index (RPI), capped and collared at 3.5% and 2% per annum
  • Initial passing rent of £275,000 per annum, reflecting £17.57 per sq ft providing a net rent of £234,650 pa
  • Let to Volvo Car UK Limited, an established manufacturer covenant with an annual turnover in excess of £1.3 billion (Dec 18)
  • Tenure – Long Leasehold – 125 year lease from 23rd August 2019 at a current rent of £40,350 pa with 5 yearly rent reviews
  • Located within an extensive catchment area which forms a key territory for both the manufacturers and dealer network groups

We are instructed to seek offers in excess of £3,600,000 (Three Million, Six Hundred Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 6.12%, assuming purchaser’s costs of 6.5%.

Prime Dealership Investment with RPI Linked Reviews

St. Marys Way, Mersey St, Stockport SK1 2HY, UK
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