Property overview

Franck-Steier Price Ltd (FSP) have recently completed the acquisition of a distribution warehouse investment on behalf of Threadneedle Property Investors.

The property is located on Arrow Valley a modern distribution park which was developed by Quintain Estates and Development Plc.  The unit extends to 110,280 sq.ft with 10.10 metre eaves.

The property is let to Landsdon Limited with a guarantee from SIG Trading Limited (5A1 D&B rating) for a term of 15 years with effect from 18th September 2006.  The passing rent is £513,000 per annum exclusive.

The purchase price of £6,340,000 reflects a net initial yield of 7.65%, after purchaser’s costs of 5.75%.  GBR Phoenix Beard represented the vendor, Quintain Estates and Development Plc.