Makeval has purchased the Hunter Building, Bristol Road, Bridgwater in Somerset from the Receivers for £1.735m. The deal reflects a net initial yield of 10.1%.
The industrial unit provides 3,919 sq m (42,180 sq ft) on a 1.62 ha (4 acre) site. Hunter Estates (a wholly owned subsidiary of Wickes) occupies the property on a 25 year lease from December 1989 at £180,000 pa. There are five yearly upward only rent reviews.
Ian Culverhouse & Co acted for Makeval and White Druce & Brown represented the Receivers.
EGi News 17/07/96
