A rare opportunity to acquire a long lease (14.5 years unexpired) distribution warehouse let to Sainsbury’s Supermarkets Ltd.
Prime logistics location in central Scotland with easy access to the M74, M8 and M77 motorways.
Modern, well-specified unit extending to 25,461.86 sq.m. (274,069 sq.ft.)
The unit forms part of the Sainsbury’s Regional Distribution Centre serving stores in Scotland, Northern Ireland and the North of England.
Sainsbury’s have been in the location for 20 years and have recently re-geared their lease, confirming their long term commitment to the location.
Let to Sainsbury’s Supermarkets Ltd on FRI terms from 13 November 2019, expiring 2nd March 2035. Tenant option to extend for 10 years.
Sensible passing rent of £1,547,717 (equating to £5.65/sq.ft.).
Rent reviews 5-yearly geared to RPI (1-4% pa compounded). Next review on 3rd March 2025.
Food retailing is proving to be one of the most resilient sectors at times of market uncertainty.
Heritable Ownership (Scottish equivalent of English Freehold).
Offers over £29,000,000 (Twenty Nine Million Pounds), exclusive of VAT are sought for our client’s interest. A purchase at this level would reflect a Net Initial Yield of 5.00% and a Capital Value of £106/sq.ft, assuming purchaser’s costs of 6.76%.