Investments / Matalan, Basildon
Fidelity have sold the Matalan, Cricketers Way, Basildon for £8.9 million reflecting a net initial yield of 6.65%.
The property is located adjacent to a J Sainsbury’s foodstore and a junction of the A127. It is 35,289 sq ft and is let to Matalan for a further 9.75 years at a rent of £632,934 per annum (£17.94 psf).
Matalan trade well from the store. The retail warehouse investment value is underpinned by the site value for alternative uses.
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Price: £8.9 million
Type: Investment Sale