Prime Long Income North West Logistics Investment
In November 2021, Joiner Cummings acted on the purchase of the distribution warehouse on Britonwood Trading Estate in Knowsley on behalf of a client.
- Recently developed distribution warehouse let to a single tenant located in the established and strategic distribution location of Knowsley.
- Established industrial location with excellent access to the adjacent Junction 4/5 of the M57 and 12minutes’ drive from Junction 23 of the M6.
- The property was built in 2018 and provides a Gross Internal Area totalling approximately 90,805 sq ft.
- The property is let to Nagel Langdons Limited for a 20 year term expiring 9th December 2038 with no break options.
- The lease benefits from five yearly upward only rent reviews to the higher of open market rent and CPI linked annually compounded capped at 4% and collared at 1% with an upcoming rent review in December 2023.
- Held on a Long Leasehold basis at a peppercorn (both leases have over c.925 years unexpired).