Kwik-Fit Portfolio
UK
dba142
Tenure: Freehold
Tenancy: Single Let
Investment summary
The portfolio comprises the following properties:-
•997-1003 High Road, Whetstone, London N20.
•570 London Road, Camberley, Surrey.
•County Oak Way, London Road, Crawley, West Sussex.
•213 Staines Road, Hounslow, Middlesex.
•Unit 2, 14/16 Easthampstead Road, Bracknell, Berkshire.
•At the time of the sale all five properties were let to Kwik-Fit Properties Ltd with a surety from Kwik-Fit Holdings Ltd on full repairing and insuring terms with lease lengths of 30 years from 25th August 1998, expiring in 2028, with 5-yearly upward only rent reviews throughout. The rent reviews are to the higher of 3% per annum compound or open market value.
•At the time of sale the total rent was £539,948, rising to £625,948 in August 2008 and £725,645 in August 2013.
•Net intitial yield 4.9%.