Halfords’ Redditch HQ on the market with £22m price tag

HALFORDS’ Redditch head office and distribution centre building has been put on the market with a guide price of £22.5m.

The retailer and automotive repair group holds a 25 year lease with more than 15 years unexpired.

Property consultancy Sanderson Weatherall is marketing the building on Washwood Industrial Estate which comprises more than 350,000 sq ft of warehousing and offices.

Best bids are due in by November 22.

The premises currently produce a rent of circa £1,700,000 per annum with a rental increase to circa £1,900,000 per annum from March 2014.

David Murray, partner at Sanderson Weatherall, said: “This is a rare opportunity to acquire such a high profile occupier. This involves a leading UK retailer with an iconic brand. In addition it is a substantial HQ building on institutional lease terms. 

“This is without doubt one of the most significant investment sales outside of London this year. We expect high levels of interest from domestic and international investors and look forward to selling this on in the coming months.”

The property was subject to a sale and leaseback by Halfords in March 2004.