MKM Building Supplies, 27 Vulcan Road North, Norwich, Norfolk, NR6 6AQ

Freehold modern trade counter investment let to MKM Building Supplies Ltd, the UK's largest independent builders' merchant

• Property specification

  • EPC Rating: B (45)
  • Low site cover of approximately 20%
  • Let to MKM Building Supplies Ltd (5A3 D&B) on a 20 year FRI lease from 5 December 2019, with 14.3 years unexpired
  • Passing rent of £231,719.75 per annum, subject to 5-yearly RPI-linked rent reviews compounded (collared at 1% pa and capped at 3% pa).
  • We are instructed to seek offers in excess of £3,955,000, subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 5.50% after standard purchaser's costs of 6.54%
  • £3,955,000 / NIY 5.50%

• Description

  Purpose-built facility extending to 15,010 sq ft GIA, constructed in 2008 with a yard extension and an open sided timber store added in 2019 totalling 5,275 sq ft