ABF Grain Products, Doddington Road, Lincoln, LN6 3SE
Franck-Steier Price Ltd (FSP) have recently completed the sale of a distribution warehouse investment on behalf of an institutional investor.
The property is located on Doddington Road, one of the main arterial routes into Lincoln city centre, and comprises a 1980’s distribution warehouse of 54,212 sq.ft.
The property is let to ABF Grain Products Limited for a term of 10 years from April 2010 subject to a tenant break option in April 2015. The current rent is £210,000 per annum.
The property was sold for £1,800,000 which reflects a net initial yield of 11.0%