|Property Reference Number||10091872097|
The property comprises 4 modern self-contained distribution units totalling 111,907 sq ft, with sizes ranging from 15,008 sq ft to 38,164 sq ft.
The units benefit from the following specification:
· Steel portal frame
· Approximate eaves height of 8.5m
· Large yards
· A total of 25 loading doors, with a mixture of dock and ground level loading
· 2 storey ancillary office accommodation in each unit
Since being in occupation, the tenant has invested significant capital on the completion of internal fit-outs, adapting the units to their business. The tenant has installed mezzanine floors, conveyor belt sorting system and chilled and cold store accommodation, further demonstrating their commitment to this location.
- A rare opportunity to acquire 4 modern distribution warehouses, totalling 111,907 sq ft, strategically located approximately 1.5 miles from the busy A41 dual carriageway, offering direct access to Junction 9 of the M40 motorway (4.5 miles) and the wider UK road network.
- Situated in the established Bicester Distribution Park, with nearby occupiers including; DHL, Bidfood Bicester, BRITA, Arrival Automotive Ltd and DPD.
- The property is the national HQ for Fresh Direct UK Ltd, who have been established for over 54 years and are a fundamental part of the Brakes Bros Group being the fresh produce arm of the business and the largest company within the group, who were acquired by the Sysco Corporation in 2016 and are one of the worlds leading foodservice businesses.
- The tenant has invested significant capital on the internal fit-out of the units since being in occupation.
- The units are fully let with a passing rent of £726,331 pa (£6.49 psf) and a long WAULT of 10.47 years to lease expiry with no breaks.
- The lease is subject to an open market rent review in September 2021, providing significant reversion.
- The site extends to 7.49 acres (3.03 ha) offering a low density of 35%.
- Located in the heart of the M40 corridor, which benefits from a low availability rate and strong leasing performance, presenting excellent rental growth prospects.
- The property is held freehold.