Royal Mail warehouse in Exeter sold for £2.7m

[TrueBlueTerrier]

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A large warehouse in Exeter occupied by Parcelforce has been sold for £2.68m.

Acting on behalf of Ashtenne Industrial Fund Limited Partnership, commercial property agents Alder King sold the warehouse investment to Thames River Capital.

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The warehouse in Marsh Barton is let to Royal Mail

The 40,485 sq ft property in Trusham Road, Marsh Barton, is let to Royal Mail Group at £225,000 per annum on a lease expiring in January 2022.

Oli Stretton, investment associate at Alder King, said: “The investment opportunity attracted competitive interest resulting in a sale well in excess of the quoting price due to its strong property fundamentals which underpin the investment value.”


Chris Watkins, of Ashtenne Industrial Fund, said: “As part of our ongoing portfolio performance review, we are delighted with the outcome of this sale which was ably handled by Alder King and greatly surpassed book value.”

[Red Robbo]

I wonder what they got planned for that ?

[UnhappyGremlin]

I wonder what they got planned for that ?

Board bonus pot?

[RedBagMan]

I thought it said whorehouse ... must sort these glasses out