Investments / Wren Kitchens, Swindon
The sale of the Wren Kitchens unit, Ashworth Road, Swindon has completed for £5.5 million, reflecting a net initial yield of 6.13%.
The property is a prime retail warehouse located in a prominent position on Great Western Way. It forms part of an established retail warehouse pitch with nearby retailers including John Lewis at Home, Next, M&S Simply Food, Cotswold and Pets at Home. It totals 15,737 sq ft and has a parking ratio of 1:183 sq ft.
It has a bulky goods planning consent and is held freehold.
It is let entirely to Wren Living Ltd for a term of 10 years from 16 February 2015 at a current passing rent of £360,000 per annum, which equates to £22.88 psf.
Price: £5.5 million
Type: Investment Sale