A private investor has bought the freehold interest in the B&Q warehouse on the Greenwich Peninsular for £43.32 million reflecting a net initial yield of 4.85%.
The property was constructed in 1999 and comprises 93,511 sq ft of open A1 non-food retail warehouse accommodation. The property occupies a site which extends to 19.7 acres, 6.5 acres of which have been sold to IKEA on a co-terminus sublease. It is let to B&Q Plc, with a passing rent of £2,244,000 per annum reflecting £24.00 psf.
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