On behalf of private clients, Cooper Rose Real Estate has today launched the sale of a portfolio of four prominent, freehold car showroom investments, located in Nottingham, Stoke-on-Trent and Sutton Coldfield .

The premises are located in affluent areas, on major arterial routes with excellent roadside prominence.

The properties are let to or guaranteed by the Very Low Risk covenant of Pendragon Plc – the UK’s largest automotive retailer with 2014 revenues of £4 billion. Excellent Q1 2015 trading results show Pendragon’s underlying profit up by 10.4%

The unexpired lease term isapproximately 8.2 years.

The total passing rent is £660,774 per annum, equating to a low £9.72 per sq ft (104.63 per sq m) and subject to open market reviews in August and September 2018.

Offers are sought in excess of £10,400,000 reflecting a Net Initial Yield of 6.00% after taking into account purchaser’s costs of 5.80%.

Contact Ben Rose or Sammy Rose or our joint agents CBRE.