Description

Index Linked Mission Critical Investment Opportunity - Let to NHS Trust

The property is a purpose-built cook and chill food production facility constructed in 2009 to NHS specifications, providing 24,144 sq ft (GIA) across two floors.

Designed as a fully integrated health service support facility, the building serves as a central hub for local NHS sites, all of which are configured to receive meals from this location. The site was strategically selected to minimise food miles and optimise delivery efficiency. The facility features a high-specification build tailored to NHS requirements, with the tenant having invested millions in fit-out and specialised equipment (additional details available upon request).

Both floors, all wall finishes, and internal structures meet full specification standards, while power supply and plant systems are configured to support the building’s production capacity and operational requirements. Further technical details are available in a supplementary document.

The property includes on-site car parking and three raised secure loading bays within a dedicated, secure loading yard. The site totals approximately 1.66 acres (0.67 ha).

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Attributes

Asking price

CN¥51,063,000

Building area gross

2,243 m²

Occupancy

100%

WAULT

6.5 years

Media

Investment Highlights

A purpose-built cook and chill food production facility situated approximately 1 mile southwest of Redruth Town Centre and 1.3 miles southwest of the A30 at Avers Junction, Cornwall's primary arterial route, placing it within a 60-minute drive time of all Cornwall's mainland hospitals.
The property extends to 24,144 sq ft GIA and has a site area of approximately 1.66 acres (0.67ha) providing low overall site coverage of 20%.
The property is subject to annual RPI increases with no cap or collar. The annual RPI increase is agreed in February and the new rent becomes effective on 1st April each year.
Freehold.
Let to Royal Cornwall Hospitals NHS Trust for a term of 26 years from 15 February 2027 (6.5 years unexpired).
Current gross passing rent of £932,013.61 per annum.

We are instructed to seek offers in excess of £5,750,000 (Five Million, Seven Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 9.97% assuming purchaser's costs of 6.62%.