Car dealership sold for £2.4m

A Loughborough building which is home to a car dealership has been sold in a £2.4m deal.

Custodian REIT has bought the 14,926 sq ft Volkswagen car dealership, son Belton Road, which is let to Lister Group.

Richard Shepherd-Cross, managing director of Custodian Capital said: “This opportunity in Loughborough’s prime motor trade pitch, let to a strong tenant, on a long-term lease, including RPI linked rent increases, provides income security and a strong reversionary yield. We believe the property’s prime location and low passing rent will provide the long-term opportunity that meets the investment criteria of Custodian REIT.”