Goodman Group, the global industrial property developer, has launched the sale of an “absolute prime” South East logistics park, seeking offers in excess of £98 million, or a blended net initial yield of 5%.
Bedford Commercial Park, 10 minutes from Junction 13 of the M1 motorway in Bedfordshire, comprises 659,409 square feet of logistics across five units.
They range from 30,427 square feet to 407,143 square feet and are built to a BREEAM Excellent certification, as well as ratings of EPC A and A+.
Goodman has appointed agency Kimmre to sell the logistics park which is let to three tenants including global e-commerce giant Amazon.
It occupies the circa 407,000-square-foot warehouse, with its deal running until 2035. It is paying around £2.7 million in rent annually.
The other four units are let to automotive parts trader Comline Holdings, which has more than 70,000 square feet, and logistics firm Expeditors International, which occupies around 181,000 square feet.
Bedford Commercial Park generates total annual rents of just under £5 million, reflecting an average rent of £7.52 per square foot overall.
The scheme also has a weighted annual unexpired lease term of around nine and a half years. London Luton International Airport is 20 miles away .