3rd April 2014
Alder King acquires Bridgwater retail warehouse investment for LondonMetric
Acting on behalf of Metric Income Plus Limited Partnership, Alder King’s investment team has acquired the freehold of a retail warehouse at Beech Business Park in Bridgwater for £3.67 million, reflecting a net initial yield of 6.8%.
The newly-developed 33,715 sq ft unit is let to CDS (Superstores International) Ltd, trading as The Range, for 20 years from 1 February 2013 at an initial rent of £264,000 per annum, subject to five yearly uplifts, fixed at 2.5% per annum compound.
The building was developed and sold by KMW Properties Ltd.