The RO Group has acquired the freehold of the Marshall Studying Honda dealership for £6.2 million.
The property is positioned inside a regional industrial hub that features Ford, Kia, Hyundai, Volkswagen and Suzuki together with the Studying Hyperlink Retail Park strategically positioned off the A33.
Nick Cashmore, funding director at RO Actual Property, commented: “It’s thrilling to start out the New 12 months by finishing this acquisition, which is especially important as we search to develop the group’s roadside portfolio in 2024.
This properly positioned asset provides us a very enticing working yield and future growth optionality given the very low web site cowl. We’re actively looking for new alternatives for distinguished roadside websites for growth throughout the Midlands and South.”
Invoice Bexson, head of the automotive crew at Savills, added: “The Honda showroom supplied the RO Group with a wonderful alternative to accumulate a first-rate properly positioned facility. At current, there’s a extreme provide / demand imbalance within the wider occupational market, which we anticipate will over time supply a number of asset enhancement alternatives.”
The acquisition mirrored a internet preliminary yield of 9.93%. The property is let in its entirety to Honda Motor Europe for a time period of 25 years expiring in 2033, with a break clause in October 2028.
Spanning 16,400 sq ft, the dealership options a big showroom, a state-of-the-art workshop and complete aftersales services.
