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.
DTZ and Columbia Threadneedle add to retail warehouse holdings
For further information please contact:
Price: £8.9 million
Type: Investment Sale