London Road, Staines
Acquisition of Industrial and Car Showroom, London Road
Wallop Estates Limited, through Nightingale Partners, has acquired 250 & 268 London Road on Staines from DTZ Investment Management. The purchase price of £3,750,000 represents a Net Initial Yield of 7.5%.
The property comprises industrial and car showroom units totalling 22,859 sq ft located on London Road. The property is fully let to Ford Retail Limited for a further 15 years and 7 months, providing a rental income of £297,518 per annum.
There was considerable interest generated in the property from private investors and UK institutions who were attracted to the unexpired lease term, quality of covenant and location which are proving to be fundamental as investors flee to core assets with underlying secure income streams.
