Royal Mail, Progress House, Ainsworth Street, Rochdale OL165 5QX
Rochdale, OL16 5QX
Acquired
Price
£2,850,000
Rent (pa)
£166,324
Yield
5.59%
Investment Summary
- Industrial unit of 25,512 sq ft with large car park on a site of 2.29 acres (0.93 hectares), thereby providing a low site coverage of 25%
- Well established industrial area to the east of Rochdale town centre, with excellent access to the M62 Motorway
- Long leasehold across two titles for a term of 250 years from 2019 at a peppercorn ground rent
- Let to Royal Mail Group
- 10 years from 2nd December 2018 (7.75 years to unexpired)
- Total passing rent of £166,324
- Long leasehold across two titles for a term of 250 years from 2019 at a peppercorn ground rent.
- £2,850,000
- 5.59% NIY
- 6.36% RY
- £113 psf Capital Value
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