Property overview

Matalan, Beaumont Leys, Leicester, LE4 1DS

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£6,504,000
Dec 2017

Franck-Steier Price has recently completed the acquisition of a retail warehouse investment in Leicester on behalf of Custodian REIT plc.

The property comprises a modern Open A1 retail warehouse extending to 37,728 sq.ft sq.ft with 141 car parking spaces.  The property is located adjacent to Beaumont Shopping Centre, 3.2 miles to the north of Leicester city centre.

The property is let to Matalan Retail Ltd on a 25 year full repairing and insuring lease expiring on 2 October 2028.  The current rent is £502,900 per annum (£13.31 per sq.ft).

The property was acquired from Belgrave Land, represented by Savills, for £6,504,000 which reflects a net initial yield of 7.25%.