Renault Car Showroom, White Rose Way, Doncaster DN4 5JH

Doncaster, DN4 5JH

Sold

Price £2,600,000

Rent (pa) £208,694

Yield 7.54%

Investment Summary

Prime car dealership investment opportunity
Located less than 1 mile south of Doncaster Town Centre
Prominent position on spine road with good access to the M18
Renault (Evans Halshaw) car showroom extending to a total of 18,163 sq ft
Large site of c. 2.06 acres with an exceptionally low site cover of 19%
Let to Reg Vardy Limited on FRI term for a period of 25 years commencing the 22nd December 2006, expiring 21st December 2031 (10.6 years unexpired)
Lease guaranteed by Pendragon PLC
Current topped up rent of £208,694 per annum (low rate of £11.49 psf)
Rent is subject to annual rent increases linked with RPI (capped at 2.77%) – December 2022 next uplift
Strong potential for asset management with future industrial/last mile logistics use
Estimated Industrial Rental Value of £157,900 per annum (£6 psf / £40,000 per acre yard overage)
Offers in excess of £2,600,000 (STC)
Low capital value of £143 psf
Net Initial Yield of 7.54%
Reversionary Yield of 8.65% (2026) and 9.65% (2031)