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April 2019

Car Park at Copeland Street, Derby, DE21 2QD

Screenshot 2019-05-23 at 13.52.41

Franck-Steier Price has recently completed the disposal car park investment opportunity in Derby city centre on behalf of private investors.

The property comprises a 0.6 acre site adjacent to Intu Shopping Centre and is let to Exel Parking Services Limited on a lease expiring 22nd November 2023.

The current passing rent is £115,000 per annum and there are rolling tenant break options from 31st August 2020 and rolling landlord break options from 23rd November 2019.

The property was sold for £1,275,000 which reflects a net initial yield of 8.51% assuming costs of purchase of 6.35%

The property was acquired by Amstone who were represented by Knight Frank in the transaction.

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