Lismore Real Estate Advisors have advised a US REIT on the forward funding and purchase of a new HGV sales and service centre facility at Westland Way, Stockton-On-Tees.
The development, targeting a low site coverage of 14%, is pre let to Scania (Great Britain) Limited on a 15 year FRI lease which is subject to 5 yearly rent reviews that are linked to RPI (2% – 4%).
The HGV sales and service centre will become the latest decarbonised facility in Scania’s UK portfolio anticipating both EPC “A” and BREEAM Very Good ratings.
The total maximum commitment will be circa £11 million reflecting a funding yield of circa 7.00%.
