Formula One Autocentres, Adcock Road, Coalville, Leicestershire, LE67 3NU
Franck-Steier Price has recently completed the sale of a long income, roadside investment on behalf of a private investor.
The property is located 1 mile north of Coalville town centre, 4 miles from J22 M1 and 3 miles from J13 A42/M42. The newly refurbished former Vauxhall dealership with workshop is situated on Adcock Road in an established and prominent commercial location adjacent McDonalds, Aldi, Halfords, Screwfix.
The property extends to 7,933 sq ft and is let to Formula One Auto Centres Ltd on FRI terms for 15 years on a new lease. The passing rent is £65,000 per annum reflecting £8.20 per sq ft.
The property attracted a large amount of interest and was sold for £1,200,000 which reflected a net initial yield of 5.10%. Mark Atkins Associates represented the purchaser.