KPMG - IERE

Spanish Properties C26,750,000:
Property Sector Description, Age & Tenure
Plot 14A & B,
Avenida Rio
Henares, Alovera,
Guadalajara, 19208
Madrid, Spain
Logistics The Property comprises two
semi-detached distribution
warehouse units arranged over
ground floor only, together with
ancillary office accommodation
built over two storeys. The
Property is of relatively new
construction and is composed of
two separate yet attached
buildings that were constructed
in different stages. The original
portion of the building, known
as Plot 14A, was constructed in
2000, with the additional
extension, Plot 14B, added in
2004. Both sections of the
property are of similar
construction and specification
and together provide a total of
35,196 sq m of accommodation.
The warehouse accommodation
is of steel frame construction,
with corrugated steel cladding.
In addition there is concrete to
the lower parts of the facades
extending to approximately one
meter in height. The Property
has a total of 26 loading doors,
12 of which have canopies and
22 which have hydraulic loading
platforms. There are a total of
45 car parking spaces which are
shared between plots 14A & B.
The Property is held freehold.
Terms of Existing
Tenancies
The Property is let to a
single tenant, Tech Data
Espana, under two
separate leases. Both
leases expire in 2018,
however, the leases also
contain break provisions
which are exercisable in
2008/9.
71
Estimated
Net
Annual
Rent
Net
Annual
Rent
Net
Initial
Yield
Market
Value
1,596,389 1,615,591 5.63% 26,750,000