Prime single let industrial investment
Located on Meir Park, a well-regarded industrial/distribution park 5 miles south east of Stoke on Trent
High specification unit completed in 2008
190,000 sq ft on a site of 1.6 acres
Let to Recticel Limited (T: £121m, PTP: £9.5m, NW: £17m)
Guaranteed by Recticel N.V./S.A (T: €566m, PTP: €18.5m)
20 year FRI lease from 12 September 2014, expiring 11 September 2034
Current rent of £1,008,658 per annum (£5.31 psf)
Reviewed 5 yearly to 2.5% per annum compound fixed increases, receivable 5 yearly
12 September 2024 – £1,141,204 per annum (£6.01 psf)
12 September 2029 - £1,291,168 per annum (£6.80 psf)
Quoting offers in excess of £18,000,000 (STC)
5.26% NIY, 5.96% RY in 2024, £95 psf
