Commercial property consultancy Sanderson Weatherall has advised a private investor client on the purchase of a 27,314 sq ft unit in Saltash, Cornwall for £1.82 million.
The site is let to Righton Ltd on a 15-year lease from June 2010 at a rent of £141,000 per annum, with a fixed uplift to £163,000 in January 2020. The warehouse has a generous minimum eaves height of 8.15 meters and has been occupied by Righton since it was built in 2004.
David Ferris, investment agency partner at Sanderson Weatherall said, “We are pleased to have advised our clients on the purchase of this investment in this well established and popular industrial location, adjacent to the A38 and within a mile of the Tamar Bridge, the border between Devon and Cornwall.
“The purchase price reflected an attractive net initial yield of 7.29% rising to 8.43% in 2020 through a fixed uplift.”
The vendor, a private property company, was represented by Mark Atkins Associates.
