MKM Builders Merchants, Manchester Road, Bolton, BL3 2NZ & Murdoch Road, Pride Park, Derby, DE24 8ZY
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£6,455,000
Jun 2024
Atlas Real Estate has recently acted for a property company on the sale two modern MKM Builders Merchants in Bolton and Derby.
The properties were both completed in 2021 and total 44,600 sq.ft. Both properties are let to MKM Building Supplies Ltd for terms of 20 years. The leases are held on full repairing and insuring terms subject to five yearly upward only reviews to CPI, collared at 1.50% and capped at 3.50% per annum compounded. The combined rent is £378,000 per annum.
The properties sold for £6,455,000 reflecting a net initial yield of 5.50%.
The purchaser was LondonMetric, represented by Colliers.
