Matalan Distribution Warehouse, Curver Way, Corby
Franck-Steier Price have recently concluded the sale of a distribution warehouse let to Matalan in Curver Way, Corby on behalf of an institutional client.
The property comprises two warehouses and a separate office block totalling 33,002.60 sq.m (355,269 sq.ft).
The property is let to Jaymax Ltd with a guarantee from Matalan Plc on a lease expiring 31st July 2014. The passing rent is £1,500,000.
The purchaser was a private investor who paid a price of £15,250,000 reflecting a net intial yield of 9.30% assuming costs of 5.7625%