KFIM purchases Wickes in Chatham for £6.9m

Advised by ESH, KFIM have purchased the Wickes in Chatham from LondonMetric Property Plc for £6,900,000.

This purchase represents a net initial yield of 5.64% and provides a long income of over 17 years following completion of a 15 year reversionary lease. The tenant has also recently completed a re-fit of the property to incorporate their new style and shopfit layout and include the new ‘Pay + Collect’ service. The 26,142 sq ft unit is let at £15.87 per sq ft and benefits from an open A1 non-food planning consent.