BTG Eddisons drives instruction on investment sale of Corby car dealership

The sale of an established commercial investment in Corby, Northants, is being marketed through our Kettering agency, with offers invited in the region of £1.95 million for the freehold.

The dealership on St James Road in the town hosts the marques Hyundai and MG and is described by the agent as a long-term opportunity with a lease term of over 14 years unexpired on the lease with no break to the present operator.

The dealership site occupies over an acre in total on two sites - within which are sales and display areas, offices, workshop and valeting facilities. It is in a highly prominent location next to the entrance to Corby’s St James Road Estate, leading to the main out-of-town Tesco superstore and its fuel garage forecourt facilities.

The site has clear visibility onto the Weldon Road dual carriageway, which links Corby town centre to the main retail park on the outskirts of town and its main trade counter district, making what BTG Eddisons believes is a perfect position for this dealership.

Gilbert Harvey, who is leading BTG Eddisons’ agency on the sale, advises that, as a commercial property opportunity, the St James Road dealership offers a rare opportunity for long-term secure investment and potential future development potential.

He explains, “Factoring-in the longevity of the lease term for the premises and quality of the tenant, we are seeking offers in the region of £1.95 million exclusive - representing a net initial yield of just under 6 per cent but with a stepped rent over the first 6 years giving a reversionary yield of approx.6.50 per cent before rent review.

“We are pitching this freehold opportunity as a very secure prospect indeed for the right investor looking for an attractive building and long-term income stream with asset gain potential in future.”

For more information, contact Gilbert Harvey on 01536 483400, at [email protected], or through eddisons.com.