Acting on behalf of Delta Properties, the Bristol investment team of Knight Frank has sold the CHEP UK Ltd warehouse at Central Park, Avonmouth for £8 million, reflecting a net initial yield of 7.75%.
The detached warehouse unit of 48,525 sq ft, which sits on an 8 acre self-contained site, has been purchased by a private investor.
The property is let to CHEP UK Ltd on a full repairing and insuring lease for 15 years, with a tenant break option in year 10, from 13th April 2012.
Nick Thurston, Associate at Knight Frank, said: “This transaction demonstrates there is strong appetite from private investors for good quality, stable, well‐let assets situated in core locations”.
