Jaguar & Land Rover, Summit 24, Lindley Moor Road, Huddersfield, HD3 3TB
Dealership Developments, represented by FSP, has completed the forward funding of a £13 million dual arch Jaguar Land Rover dealership in Huddersfield.
The development comprises a 59,069 sq.ft state of the art dual arch Jaguar Land Rover dealership on a site of 5.35 acre. The property is located over-looking M62 and within half a mile of J24 of M62.
The property was let on completion to Rybrook Cars Ltd, guaranteed by Rybrook Holdings Ltd, for a term of 20 years. The lease is held on full repairing and insuring terms subject to five yearly upward only reviews to RPI collared at 1% and capped at 2% per annum compounded. The commencing rent is £700,000 per annum.
The property was funded by NFU, presented by Knight Frank, for £13,000,000 reflecting a net initial yield of 5.00%.