Property overview

Starbridge Portfolio, Brentwood, Lewes and Pevensey

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£10,750,000
Jul 2020

FSP has recently completed the off market acquisition of portfolio of BP/M&S petrol filling stations in Brentwood, Lewes and Pevensey for LondonMetric Property plc.

The properties all comprises modern petrol filling stations developed and occupied as BP/M&S stores.  The properties are all let to BP Oil UK Ltd with a WAULT of 15.9 years to expiry.  The leases incorporate fixed uplifts 5 yearly to 2% per annum compounded.  The total combined rent is £725,000 per annum.

The portfolio was purchased for £10,750,000 which reflects a combined net initial yield of 4.72%.

The property was acquired from Starbridge Property Investments, represented by Barber Wadlow.