Subject to an agreement for lease dated 26 February 2010 the property will be let to Wincanton Group Limited with a guarantee from Wincanton Holdings Limited for a term of 15 years from the date of practical completion of the fitting out works (anticipated September 2010). The property is to be let on full repairing and insuring terms and the passing rent is to be £1,579,289 per annum exclusive subject to 5 yearly open market rent reviews. The rent equates to £7.25 per sq ft off 217,833 sq ft on 10.859 acres.
The freehold investment is subsequently offered for sale. Offers are sought at £22.97 million which reflects a net initial yield of 6.5% after deduction of 5.7625% purchaser costs
