A Swindon retail scheme has changed hands for nearly £7.2m as the town’s commercial property market continues to attract investors.
The 44,600 sq ft retail warehousing scheme – part of the County Road Retail Park, off Ocotal Way – has been bought by London-based UK property investment company Custodian REIT.
Its two units are let to camping equipment and clothing firm GO Outdoors and bargain retail group B & M, with nearby occupiers including Tesco, Wickes, Lidl and TK Maxx.
The units' leases expire in 2021 and 2025 respectively with a total annual passing rent of £525,000.
Custodian Capital managing director Richard Shepherd-Cross said: “We are delighted to have secured this prominent property in Swindon’s highest density catchment area.
“B&M Bargains and GO Outdoors are both occupiers who are dominating their sub-markets.” He said the units’ unrestricted open A1 planning consent – including food – meant they would provide long-term income and flexibility over future use.
Custodian Capital’s portfolio includes UK properties predominantly let to institutional-grade tenants on long leases and is characterised by small lot sizes, with individual property values of less than £10m at acquisition.
