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17 Dec 2018 | 08:29

Custodian REIT acquires Volkswagen car dealership in Loughborough

UK investment company Custodian REIT on Monday acquired a Volkswagen car dealership, located on Belton Road in Loughborough for £2.36m.

The property was let to Lister Group on a lease expiring on 30 November 2038, subject to a break in 2028, with a current passing rent of £160,000 a year, reflecting a net initial yield1 of 6.37%, the company said. The lease benefited from rent reviews linked to RPI, subject to a cap of 3.0% per a year rental growth.

At 8:29am: (LON:CREI) Custodian Reit Plc share price was -0.5p at 115.5p

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