BCA Group, Midlands Logistics Park, Corby, NN18 8ET
Franck-Steier Price has recently completed the acquisition of 120 acre car storage facility in Corby on behalf of LXI REIT plc.
The property is located adjacent to Midlands Logistics Park on Geddington Road, to the south east of Corby town centre.
The property comprises a 120 acre car storage facility let to BCA Group Europe for a further 18.5 years at a rent of £3,241,000 per annum reflecting £26,726 per acre. The lease is held on full repairing and insuring terms subject to 5 yearly upward only reviews to uncapped RPI.
The property was acquired from Mulberry Land, represented by M1, for £60,000,000 which reflects a net initial yield of 5.25%.