Summary
Prime Distribution Sale and Leaseback Opportunity
Investment Summary
• 100% Prime high specification distribution warehouse totalling 302,038 sq ft
• Prologis Park, Ryton is situated in the heart of the 'Golden Triangle' in one of the most sought after distribution locations in the UK
• Developed by Prologis Developments Limited in 2013 and occupied by the undoubted covenant of Network Rail Infrastructure Limited
• The building operates as Network Rail's principal UK national distribution centre
• New 15 year full repairing and insuring lease incorporating 5 yearly open market rent reviews. The lease will incorporate a tenant's break option in year 5
• Initial rent of £1,887,737 per annum reflecting £6.25 per sq ft
Proposal
We are instructed to seek offers in excess of £30,465,000 (Thirty Million Four Hundred and Sixty Five Thousand Pounds) subject to contract and exclusive of VAT, for our client's freehold interest. A purchase at this level reflects an attractive net initial yield of 5.75% exclusive of usual purchaser's costs.