Budgens’ primary national distribution facility has been brought to market with a £25m price tag, reflecting a net initial yield of 6.75%.
The shed, on the Park Farm Industrial Estate in Wellingborough, Northamptonshire, covers 270,000 sq ft, and is let to Musgrave Retail Partners GB until April 2027, subject to five-yearly upward-only rent reviews, at a rent of £6.60 per sq ft.
Musgrave carries out wholesale and retail distribution through the Budgens and Londis brands.
The shed forms the heart of the 260-acre Park Farm Industrial Estate, which is also home to DHL Homebase, House of Fraser, Volvo and Chubb.
The tenant has an unexpired lease term of 12 years, 11 months, producing £1.8m of rent annually.
Philips Lockhart Starr has been appointed to market the property.
chris.berkin@estatesgazette.com
