Nelson Bakewell - Retail - Leeds, Birstall, Gerald Road, Spring Ram Retail Park

Date: 07 Aug 1998

PRIME RETAIL WAREHOUSE PURCHASE

NPI have purchased a prime retail warehouse investment on the Spring Ram Retail Park Gelderd Road, Birstall, Leeds from United Utilities plc for £2,625,000 The freehold property comprises approximately 1,025.21 sq m (11,036 sq ft) and is let to Kingsbury Group plc on assignment from Norweb plc for a term of 25 years from March 1995. The passing rent is £110,000 per annum exclusive which equates to a rent of approximately £107.30 per sq (£9.97 psf).

St Quintin acted on behalf of NPI, the major pensions provider, and Nelson Bakewell and Arrowcroft Group plc represented United Utilities.

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