Peugeot & Nissan, Wheatley Hall Road, Doncaster, DN2 4LT
Franck-Steier Price has recently acted on behalf of the Threadneedle Portfolio Services in the sale of a modern car dealership investment property on Wheatley Hall Road, Doncaster.
The property comprises two dealerships trading as Peugeot and Nissan and let to Pendragon Property Holdings td on co-terminous leases expiring 23rd June 2033. The total passing rent is £345,395 per annum with five yearly fixed rental increases to 3% per annum compounded.
The total size of the buildings is 28,881 sq.ft across three buildings. The sale price was £5,400,000.
The purchase price represented a net initial yield of 6.00%, assuming usual costs of purchase of 6.61%.
The purchase was West Lindsay District Council who were represented by Cushman & Wakefield and Franck-Steier Price acted for the vendors, Threadneedle.