Budget Greeting Cards Ltd, Unit 8 Centurion Business Park, Nottingham, NG6 8WA
FSP has completed the disposal of a recently refurbished, urban logistics unit in Nottingham on behalf of CBRE Global Investors.
The property comprises a detached warehouse unit, extending to 40,468 sq ft, on a self-contained site located on the established and busy Blenheim Industrial Estate, approximately 4 miles north west of Nottingham city centre.
The property is let to Budget Greeting Cards ltd on a 10-year term with a break option in year 5 from 4th April 2019 providing just over 3 years unexpired. The passing rent is £212,500 per annum reflecting a low £5.25 per sq ft.
The property was sold for £3,180,000 which reflects a net initial yield of 6.28%. The property was purchased by a private investor who was represented by Fulwell Capital.