LONDON, UK: Standard Life Investments Property Income Trust (SLIPIT) has completed the purchase of a Motorpoint car showroom in Stockton-on-Tees for £5m, reflecting a net initial yield of 6.5%.
The acquisition will be funded out of existing cash reserves and was a sale and leaseback, with Motorpoint entering into a new 25 year lease (with tenant option to end the lease after 15 and 20 years). The c46,500 sq.ft. showroom sits on a prominent 5.2 acre site, and has recently undergone a comprehensive refurbishment prior to Motorpoint taking occupation.
Mark Blyth, Deputy Fund Manager of SLIPIT commented: “We are pleased to have secured this acquisition, which provides SLIPIT a robust income stream with in-built rental growth. In addition, the recent refurbishment has improved the property from an ESG perspective and we look forward to working with the tenant to explore opportunities to improve this further.”
Motorpoint Stockton-on-Tees is situated at Yarm Road, Stockton-On-Tees, Durham, TS18 3RW1. It’s conveniently located next to Dobbies Garden Centre and the Shell petrol station.
Motorpoint Stockton-on-Tees offers a wide variety of high-quality, nearly new cars. With hundreds of vehicles in stock, you’ll find options to suit your preferences and needs. All vehicles come with a warranty and are available at unbeatable prices.
You can explore financing options, part-exchange, and even take advantage of the same-day driveaway service.
If you prefer, there’s also a reserve and collect option, as well as home delivery for added convenience.
Motorpoint, the UK’s leading independent retailer of nearly new and used cars. With over 20 stores nationwide, Motorpoint offers car buyers the chance to shop thousands of hand-picked vehicles from over 30 manufacturers. Whether you’re looking for a reliable family hatchback, a stylish SUV, or a sporty coupe, Motorpoint has you covered. Here are some key points about Motorpoint:
Quality Cars at Unbeatable Prices:
Motorpoint prides itself on offering nearly new cars that are under four years old or have completed less than 30,000 miles.
All vehicles come with the reassurance of low mileage and warranty coverage.
Nobody beats Motorpoint on price – that’s a promise! If you find the same quality car on sale elsewhere, Motorpoint will refund you double the difference1.
Flexible Finance Options:
Motorpoint provides competitive finance rates, including an exclusive 9.9% APR offer on BMW models.
Choose a time period to repay that works for you.
Get a competitive quote for your used car finance online, over the phone, or in-store.
Omnichannel Purchasing Journey:
Combines online shopping with 20 retail stores nationwide.
Reserve your car online with just a £149 deposit.
Enjoy home delivery with a 14-day money-back guarantee.
Popular Makes and Models:
Offers a wide range of makes and models, including Ford, Audi, BMW, Volkswagen, Mercedes-Benz, and more.
Whether you prefer diesel, petrol, hybrid, or electric, there’s a car for everyone.
Award-Winning Customer Service:
Motorpoint’s customer service is highly rated, both online and in-store.
Thousands of cars are waiting for you to view in person – visit a store for a test drive or a chat with the friendly team2.
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