Acting on behalf of a charity client, Franck-Steier Price have acquired a multi let trade investment on the edge of Peterborough city.
The property is located north of the town centre on the A15 opposite Maskew Retail Park.
The property is multi let with three tenants, Kwik Fit, Halfords Autocentres and Unitfit Autocentres. The units range from 2,062 sqft to 4,175 sqft. Expiries range from 2023 to 2028. The combined rent is £79,685 per annum with rents ranging from £7.86 per sqft up to £9.93 per sqft .
The investment was purchased for £1,300,000, reflecting an initial yield of 5.78%. MacLaren & Partners and Carter Jonas acted for the vendor.