Screwfix, Chartwell Drive, Wigston, Leicestershire, LE18 2FL
Franck-Steier Price have recently completed the sale of a newly constructed trade counter unit on behalf of Carbide Properties Ltd.
The property is located on Chartwell Drive, Wigston, the established industrial and trade counter area within the town.
The property comprises a purpose built, brand new trade counter unit extending to 4,622 sq ft with 9 dedicated customer car parking spaces.
The property was let to Screwfix Direct Limited on a new 10 year FRI lease at a total passing rent of £50,000 per annum, reflecting £10.81 per sq ft.
The property offered excellent long income secured against the fantastic covenant of Screwfix whilst also benefitting from being brand new with a complete suite of construction warranties.
The property was acquired for £925,000 which reflected an initial yield of 5.12%.
The property was acquired by Andrew & Ashwell who were acting for Hammond Grange.