Investments / Wickes, Gipsy Lane, Swindon
Square Metre Asset Management have completed the sale of the Wickes, Gipsy Lane, Swindon to IM Properties for £14.918 million, reflecting a net initial yield of 5.65%.
The property was purpose built for Wickes in 2007 who trade it as their Wickes Extra format In total it provides approximately 54,096 sq ft of accommodation and has parking for 196 cars showing a ratio of 1:270 sq ft.
The property is held freehold and has a restricted A1 planning consent.
It is let in its entirely to Wickes Building Supplies Limited for a further 14.5 years at a current passing rent of £899,589 pa, reflecting £17.00 psf.
Price: £14.918 million
Type: Investment Sale