B&Q Portfolio
These assets are a strong match for our clients’ investment requirements and are an example of their continued confidence in the UK economy. The new 15-year leases to a subsidiary of an investment grade credit will provide sustainable and progressive income returns for our investors. We are actively seeking similar transactions.
- Purchase Price
- £53.3m
- NIY
- 6.6%
- Fund
- Segregated Account
- Features
- Three solus retail warehouse units and associated parking
- Let to B&Q Plc on new 15-year leases by way of sale-and-leaseback upon completion of the purchase
- Portfolio totals 306,154 sq ft across 30.3 acres
- Prime locations adjacent to major arterial routes in the densely populated urban conurbations of Birmingham, Cardiff and Tyne & Wear
- Strong residual site values for urban logistics
- Purchase Rationale
- Long, progressive income
- RPI indexed rent reviews
- Strategic urban locations with strong alternative use values
- Location
-
- Axletree Way, Park Lane, Wednesbury, WS10 9QY
- 499 Cowbridge Road, Culverhouse Cross, Cardiff, CF5 5TG
- Armstrong Industrial Estate, Cragside Road, Washington, Tyne & Wear, NE37 1LH
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Palmer Capital acquires a c. 306,000 sq ft retail store portfolio from B&Q, by way of sale-and-leaseback
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