Matthews & Goodman - Industrial Sale - Bicester, Bicester Distribution Park

Date: 25 Nov 2002

A UK based investor has sold a distribution warehouse at Bicester Distribution Park, Bicester to Prudential for £6.7 million.

The unit is freehold, and let to Bibby Distribution for a term of 25 years from June 1997 at a current rent of £537,920 per annum, subject to a tenant's break option in December 2012.

The unit totals 91,175 sq ft, with eaves height of 14 metres, and the warehouse is chilled.

The unit forms part of the 40 acre Bicester Distribution Park, where other occupiers include Tibbett & Britten.

The vendors were advised by Matthews & Goodman, whilst King Sturge acted for Prudential.

The purchase represents a net initial yield of 7.6%, and is expected to increase on completion of an outstanding rent review.

Related website: Matthews & Goodman

Where do I go now?: » View the latest news items » View the news archive » Subscribe to Weekly Property Newsletter » Submit news