The Charles Street Group, Clients of Fifield Glyn have invested £1,729,000 in the forward funding of a new distribution unit, pre-let to the Post Office, at Southport Business Park.
Stockport based developers CTP Ltd are now constructing the 2,322.5m2 (25,000 sq.ft.) building which will be used as a new Sorting Office by the Post Office when completed in August.
The Unit has been let at £140,000 p.a. for a term of 20 years from practical completion, subject to a Tenants only break at the end of the 15th year. The completed investment will show a yield close to 8%.