Legat Owen are delighted to have acted on behalf of a private client in the purchase of The Aston Barclay Site, Heath Road, Whitchurch in a sale and leaseback agreement.
Aston Barclay, the UK’s leading independent car auction group, have signed a 10 year lease at £300,000 per annum reflecting a net initial yield of 11.65% after purchaser costs.
The Prees Heath, Whitchurch site comprises a car auction centre with very prominent frontage to the A41 dual carriageway and totals c.13.3 acres (5.4 ha). Aston Barclay have traded very profitably in the location for over 50 years.
Harriet Shakeshaft, Surveyor at Legat Owen, commented:
“We are delighted to have acted in the purchase of this site for a private client giving a healthy return on investment. It is a great site in a very prominent position. Thank you to Ed Cornwell at Cushman and Wakefield who acted for the vendor.”
