Property overview

Unit 2, Centurion Park, Clifton Moorgate, York, Y030 4WW

sold

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£4,680,0000
Sep 2010

Franck-Steier Price have recently concluded the sale a prime car dealersip situated on Clifton Moorgate in York on behalf of Wayland Properties LLP.

The property was constructed in 2004 and comprises a 2,287.28 sq.m (24,620 sq.ft) facility built to Mercedes Benz pan-european specification.

The property is let to Rybrook Vehicles Ltd, guaranteed by Rybrook Holdings Ltd, for a term expiring on 31 December 2025. The lease is held on full repairing and insuring terms subejct to 5 yearly upward only reviews fixed to 2.5% per annum compound. The current rent is £356,600 per annum.

The property sold for £4,680,0000 to Threadneedle UK Property Select Fund, represented by Gain Property Services. The purchase price reflects a net initial yield of 7.19%, after purchaser’s costs of 5.75%.