Commercial Investment Team Purchase B&Q Unit For Threadneedle

Allsop's Commercial Investment team have completed on the purchase of the B&Q unit on Coypool Road in Plymouth on behalf of Threadneedle for £5.31m reflecting a NIY of 6.9%. 

The retail warehouse property is let to B&Q for a further 9 years at a rent of £10.62psf.  The rent review is linked to RPI Cap and Collar 0-3%. 

National Investments have completed on the purchase of the B&Q unit on Coypool Road in Plymouth on behalf of Threadneedle for £5.31m reflecting a NIY of 6.9%.  The retail warehouse property is let to B&Q for a further 9 years at a rent of £10.62psf.  The rent review is linked to RPI Cap and Collar 0-3%. 

Bidding was competitive with the asking price reflecting 7.75%, but the deal represents good value with the rent review being linked to RPI.

Notes to editor

Notes to Editor

Allsop is an independent property consultancy with a market-leading reputation for high quality service, integrity and innovation. We are also well known as the UK’s largest and most successful auction house.  Our success is built on over 100 years’ experience in commercial and residential property consultancy and sales.

Contact

Contact

To arrange an interview or for the supply high resolution images or further information please contact Jennifer Mortimer
Jennifer.mortimer@allsop.co.uk
020 7543 6728