Evolve Fund Services on behalf of Evolve All Saints Partnership has sold 1-2 Felstead Road, two modern trade/warehouse units, located in Epsom, Surrey, for £6m to a private charitable investor.
Totalling 22,751 sq ft, both units are let to Wolseley UK Ltd until 2032 with a break option in 2027. Wolseley has occupied the site since 2001 and use the units to cater to the trade market and as a distribution centre for their wider network of outlets.
Located on Longmead Industrial Estate, the units are let off an average rent of £10.37 per sq ft. The purchases price reflects a net initial yield of 3.69%.
Allsop acted for the vendor while Savills acted for the buyer.
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