Preston, United Kingdom
£6,800,000
Price paid to the seller for the asset
£326,400
Stamp Duty Land Tax paid to the government for the purchase
£136,000
Commission paid to estate agent to execute the transactions
£57,800
Expenses incurred to complete the transaction
£20,400
Expenses incurred w.r.t Special Purpose Vehicles
£27,800
Funds reserved for contingencies
£81,600
Expenses incurred to arrange debt financing
There is an opportunity to purchase a Grade A warehouse totaling 85,757 sq ft in Walton Summit, Preston, England, tenanted to 3rd party logistics (3PL) provider Kammac for 10 years at an all-in price of £7,450,000 (£86.9 per sq ft) which sets-up to a £9.00% cash-on-cash yield and 18.2% IRR for eligible investors.
Kammac is one of the fastest growing 3rd party logistics players (3PL) in the UK. Formed in 1980, the company operates from 10 sites across the UK totaling 1.9 mn sq ft with clients including TESCO, WH Smith, LIDL among others.
Preston is the administrative centre of Lancashire and the 3rd largest city in the North West of England after Manchester (33 miles) and Liverpool (35 miles). London is 2.5 hours by train.
We believe this is a rare opportunity to acquire a highly prominent Grade A warehouse tenanted to Kammac with a 9+ year unexpired lease term.
Kammac is one of the fastest growing 3rd party logistics players (3PL) in the UK. Formed in 1980, the company operates from 10 sites across the UK totalling 1.9 mn sq ft with clients including TESCO, WH Smith, LIDL among others.
Total Area
85,757 sq.ft
Rent per sq.ft
£5.50
Credit Risk Rating
-
Rent Review
Every 5 years
Tenant Break
5 years
Lease Period
10 years
Rent Review Type*
Upwards Only
Preston is the administrative centre of Lancashire and the 3rd largest city in the North West of England after Manchester (33 miles) and Liverpool (35 miles). London is 2.5 hours by train.
The property consists of a high grade modern detached single storey warehouse of portal frame construction with profile metal cladding arranged over three bays. The floor area is 85,757 sq ft along with 59 car parks.
