Lismore Real Estate Advisors have advised LXI REIT on the purchase of a UK wide car showroom portfolio.
The 5 properties are well located in Edinburgh, Newcastle, Carlisle, Northampton and Chertsey and are all let to Cazoo Limited on new 20 year leases. The rent reviews are 5 yearly and linked to CPI (2% – 4%).
The portfolio was purchased for £23.40 million which reflected a blended net initial yield of 5.65%.
