Wholesaler seeking sale-and-leaseback of West Midlands warehouse

Housewares specialist RK Wholesale is looking for a sale-and-leaseback of its distribution warehouse in Stone, West Midlands. The company is seeking offers in excess of £28.2m, reflecting a NIY of 4.9% and a low capital value of £116 per sq ft. The 243,239 sq ft facility at Stone Business Park is located five miles north of junction 14 of the M6 motorway. Neighbouring occupiers include Jaguar Land Rover, Hexstone, Royal Mail, Woolcool, REL Transport Group and Drac. RK Wholesale is set to sign a 10-year lease with a five-year break upon completion of the sale, at a price of £6.75 per sq ft. M1 Agency was appointed to market the opportunity. To send feedback, e-mail evelina.grecenko@eg.co.uk or tweet @Gre_Eve or @EGPropertyNews