Well-located distribution warehouse

Rare opportunity to acquire a well-located distribution warehouse let to Marks and Spencer plc. Built to a strong specification totalling 191,806 sq ft prominently located on J35A of the M1. The site extends to 10.19 acres (4.12 hectares) reflecting a site density of 43%. The property will be fully leased to Marks and Spencer plc (5A2 rated by D&B) for a term of 3 years with no break options upon completion of the sale. The lease will be contracted outside the Landlord & Tenant 1954 Act and subject to a schedule of condition. The property will produce a passing rent of £1,246,739 per annum reflecting a rent of £6.50 per sq ft. Marks and Spencer plc are considered one of the best performing companies listed on the FTSE 100, with £13bn of revenue and £716m of pre tax profit.