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Robert Irving Burns

RIB’s Investment Team was mandated on behalf of Receivers

RIB’s Investment Team was mandated on behalf of Receivers with the sale of a Freehold Warehouse with forecourt and rear car parking/loading.

About the property

The property is located on Park Avenue, accessed off the A406 North Circular Road which provides a direct route into North London and the M1 motorway. Access to Central London is directly achieved via the A40 Western Avenue, with wider motorway networks in proximity being the M40, M25 & M4.

The property comprises a detached steel trussed warehouse with ancillary offices. The property has recently undergone a comprehensive refurbishment and is arranged over ground and first floor, benefitting from forecourt parking at the front with extensive parking / open land at the rear of the property. The property is let to Liberty Entertainment Partners Limited on a 25-year lease, from 1st January 2020 at a rent of £100,000 pa with a rent review on 1st January 2025 and every fifth year, to open market value.

After a comprehensive marketing campaign which resulted in a Best Bids process, we were able to agree terms with a private investor who subsequently completed the transaction within the agreed time frame.