The unit is pre-let to DIY giant B&Q on a 20-year lease with a break option from the 15th year at an initial rent of £2.9 million ($5 million). Upon completion of construction this month, B&Q will operate from 20,000 sf of offices and 770,000 sf of warehouse space on a 53-acre site.

SDG managing director Didier Tandy says: "We achieved the pre-letting to B&Q in February this year; started construction in March with early completion next month and have now achieved the sale of the investment at a very satisfactory price."

Pinsents acted for SDG and Olswang for SLP.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.