Loughborough car dealership sold

shutterstock.com/Natee Meepian

Custodian REIT, the UK property investment company, has  acquired a 14,926 sq ft Volkswagen car dealership, situated on Belton Road in Loughborough, for £2.36m.

The property is let to Lister Group Limited on a lease expiring on 30 November 2038.

Richard Shepherd-Cross, Managing Director of Custodian Capital Limited, said: “This opportunity in Loughborough’s prime motor trade pitch, let to a strong tenant, on a long-term lease, including RPI linked rent increases, provides income security and a strong reversionary yield.

“We believe the property’s prime location and low passing rent will provide the long-term opportunity that meets the investment criteria of Custodian REIT.”