ACRE Capital have advised Marick Real Estate the investment sale of a new 524-space car park offering highly secure, recurring RPI-linked income from a blue-chip tenant base at Rainton Bridge Business Park. The car park is 100% let with a WAULT of 4.6 years to expiries and 3.6 years to breaks (with all tenants leases being co-terminus with their office space) and produces a passing rent of 314,400 per annum, reflecting 600/space per annum, with the rent being reviewed annually in line with RPI (uncapped). The property was purchased by a Private Investor.
Property Type: Car Park
Transaction Type: Investment Sale
Client: Marick Real Estate