Prime Modern Warehouse Sale & Leaseback Opportunity
Headquartered in Australia and with sites in Asia, Europe and North America, EGR is a world class designer and manufacturer of automotive and building & commercial products. The Milton Keynes warehouse totals 60,000 sq ft on a site of 3 acres.
EGR Europe with a guarantee from the parent company has entered in to a 15 year lease, with 5 yearly RPI linked rent reviews subject to a collar of 2% and a cap of 4% at a commencing rent of £599,000 per annum.
The investment sold for £9.3 million reflecting a net initial yield of 6.0%.
Paul Davies from our Milton Keynes office acted for EGR when they bought the property 10 years ago and having stayed in touch with them since, Bidwells was invited to pitch for the sale.