CBRE has advised Brightbay Real Estate Partners on the sale of a portfolio of 25 Kwik Fit properties across the UK for a price in the region of £21m – a net initial yield of approximately 5.50%.
Of the 25 properties, 24 are held on leases to Kwik Fit until December 2040 and the weighted average unexpired lease term was in excess of 17 years.
The portfolio of properties included Kwik Fit sites in: Stockport, Hull, Plymouth, Perth, Stafford, Edinburgh, Blackpool, Dunfermline and Inverness.
The buyer was represented by Cushman and Wakefield.