Property overview

DSG Retail Ltd, High Bay, Bessemer Drive, Stevenage, SG1 2DL

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£7,250,000
Jul 2016

Franck-Steier Price has recently completed the off market acquisition of a prime distribution unit in Stevenage on behalf of LondonMetric.

The property is located on Bessemer Drive in a prominent position overlooking the A1(M).  The property comprises a modern high bay distribution unit extending to 74, 208 sq.ft.

The property is let to DSG Retail Ltd for a term of 10 years from 10 June 2015.  The lease is subject to review on 10 June 2020 and a tenant break option, subject to 9 months notice.  The break is personal to the tenant or a Group company.  The current rent is £483,424 per annum which reflects a low rent of £6,51 per sq.ft.

The purchase price of £7,250,000 reflected a net initial yield of 6.25%.

The vendor was Helical Plc.