Property overview

Aviator 125, Ellesmere Port, Cheshire

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Sep 2020

Franck-Steier Price has recently completed acquisition of Aviator 125 on behalf of UKWP (a joint venture between Ares and Revalan).

The property comprises a new high specification distribution warehouse completed in February 2020.

The property is let to Survitec Group Limited on a 20 year lease with a break at 15.  The initial rental is £720,000 per annum and subject to 5 yearly rent reviews based on compounded RPI (collar and cap of 2 & 4%)

The purchase price was £10,000,000 which reflects a net initial yield of 6.75%

Andrew Franck-Steier who acted for the purchaser, UKWP comments that it was fantastic to agree a deal at such value in comparison to the aggressive pricing on similar assets.  The deal was agreed in lockdown on an off market basis.