Summary
West Ranga purchased the Freehold interest in a vacant 36,464 sq ft industrial unit from Continental Tyres in December 2016. With a strong knowledge of the local occupier market, the team simultaneously agreed an AFL and Lease with DSG Limited (Dixons Carphone Warehouse) for 10 years on FRI terms. Managing and undertaking a significant refurbishment of the property, Practical Completion was delivered in July 2017. Prior to PC the investment was sold to a private pension fund for a price reflecting a NIY of 6.00%. The project delivered a profit on cost of 20.35%, ungeared IRR of 67.16% and Geared IRR of 181.70%. |
Dundee
26 Commercial Street Dundee DD1 3EJ 01382 201 964 |
Edinburgh
70 Cumberland Street Edinburgh EH3 6RE 0131 315 0382 |
York
2 Newgate York YO1 7LA 01904 403 785 |
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