Topps Tiles, Morlands Business Park, Glastonbury, BA6 9FW
Wulstan Capital, represented by Franck-Steier Price, has recently completed the disposal of a modern, single let trade counter investment located on Morlands Business Park in Glastonbury.
The property is an attractive modern unit constructed in 2011 and extends to 6,501 sq ft with 14 customer parking spaces to the front of the property.
The property is let to the secure covenant of Topps Tiles (UK) ltd for 15 years expiring 15th March 2030. There is a tenant break option in March 2027 and so accordingly the property provides an unexpired term of 9 years to expiry and 6 years to break. The passing rent of £42,000 per annum reflects a low £6.46 per sq ft offering future growth potential.
The property was sold for £680,000 which reflects a net initial yield of 5.87%.
The Purchaser was a private investor, represented by JLL Bristol