Frank-Steier Price Ltd. Leading niche commercial property investment practice Logo for Midlands Property Awards 09

October 2019

Budget Greeting Cards Ltd, Unit 8 Centurion Business Park, Dabell Avenue, Nottingham, NG6 8WA

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under offer

The property is located just over 2 miles north east of Junction 26 of M1 with easy access to Nottingham city centre.  Situated on Dabell Avenue, part of the Blenheim Industrial Area.  The property comprises a high specification detached modern warehouse extending to 40,468 sq.ft which was extensively refurbished earlier this year.  Let to Budget Greeting Cards Ltd, with a guarantee from Budget Trading Ltd, until 3 April 2029, with a tenant’s only break on expiry of the 5th year (4.5 years unexpired).  Current rent £212,500 per annum (£5.25 per sq.ft).  Offers sought in excess of £3,070,000 which reflects a net initial yield of 6.50% and a low capital value of £75.88 per sq.ft.