Lismore Real Estate Advisors has advised a US investor on the forward funding and purchase of a new distribution facility at Eurocentral. It is the investor’s first funding transaction in the UK.
The distribution unit is pre let to The Co-operative Group Limited on an 18 year FRI lease with PC due in the summer of 2022. The lease is subject to 5 yearly RPI rent reviews (1.00% – 3.00% per annum).
The purchase price was circa £12 million which reflected a funding yield of close to 4.60%.