Property overview

Granby Industrial & Trade Park, Peverel Drive, Milton Keynes, MK1 1NL

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£9,130,000
Jul 2014

Franck-Steier Price have recently completed the acquisition of a multi let trade park and industrial estate at on Peverel Drive Milton Keynes which is directly opposite MK Dons stadium and MK1 Shopping Park.

The estate totals 146,000 sq.ft in 24 units ranging in size from 1,554 sq.ft to 54,998 sq.ft  The property is held freehold and let to 16 tenants on 18 leases with a wault of 6.7 years to expiry and 2.8 years to break.  Tenants include John Lewis, Toolstation and Clarkson Evans.

The property was purchased for £9,130,000 which represents a net initial yield of 7.1%%, assuming full costs of purchase of 5.8%. 

Franck-Steier Price acted on behalf of Threadneedle Property Unit Trust and Andrew Franck-Steier commenting on the deal said “This acquisition comprises a highly prominent trade park in a strong south east location let to a range of occupiers with a good range of unit sizes.”