The 355,500 sq ft Halfords headquarters on Washford Industrial Estate in Redditch, Worcestershire, has been sold to a private syndicate for £28.15m.
The price, which reflects a net initial yield of 5.75%, is slightly above the £27.65m sought when the property went to the market in May this year.
The property comprises 285,000 sq ft of distribution space with a further 70,500 sq ft office accommodation, and is let to Halfords in its entirety at a rent of £1,550,000 pa rising to £1,711,000 pa on a lease expiring in 2029, with further fixed uplifts.
The lease expires in 2029.
Savills represented the private client vendor. The private syndicate was unrepresented.
References: EGi News 17/07/06
