Mason Philips - Industrial Sale - Newport, Audley Drive

Date: 28 Nov 2002

Client of Mason Philips have forward funded Pettifer Limited's proposed Focus Do It All retail warehouse on Audley Drive, Newport, Shropshire for £2.35 million, at a net initial yield of 7.15%.

The deal was agreed on the 1,997.35 sq m (21,500 sq ft) retail warehouse and 969.87 sq m (10,440 sq ft) garden centre, following a pre-letting to Focus Do It All.

The DIY giant has agreed a 25-year lease for the property at a rent of £177,373 pa, subject to five yearly rent reviews.

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