Aberdeen Asset Management, advised by Fineman Ross, has acquired a freehold site at 963 Great West Road, Brentford for the development of Kia’s new UK flagship car showroom. Aberdeen acquired the site from Great West Road Investments Limited.
Planning permission has been granted for a 41,235 sq ft (3,831 sq m) motor car showroom unit on the 1.084 acre (0.44 hectare) site in July 2013. The property has been pre-let to Kia Motors (UK) on a 25-year FRI lease and the rent will be reviewed annually, linked to RPI increases within the range of 2-4%. The development is designed over four storeys and allows for highly visible showroom areas on the upper floors, fronting the elevated section of the A4.
Paul McNair of Fineman Ross comments: “This is a highly prominent site fronting the Great West Road and provides a great opportunity for Kia to enhance brand awareness in the UK. The transaction provides a highly attractive income profile for Aberdeen Asset Management and underlines its desire to acquire properties with good quality fundamentals.”
