The site occupied by Booker Cash and Carry on Lynn’s Hardwick Industrial Estate has been sold for over £1 million.
The Hansa Road premises has been bought by Leicester-based property company W & J Parker Ltd for £1.05 million.
Business will carry on as usual at the food wholesaler Booker Ltd, which has an unexpired lease term of 11 years.
International real estate advisor Savills sold the premises on behalf of HTS Estates Ltd. William Rose, director of business space at Savills Peterborough said: “Occupying a prime position at the heart of the Hardwick Industrial Estate, Booker Cash & Carry provides high quality retail warehouse space. With a strong covenant, significant returns and the potential for future asset management, the property represented a good investment opportunity.”
The buyers, W & J Parker Ltd which were represented by Budworth Hardcastle, told the Lynn News: “The property gives us a good return on our investment and complements our existing portfolio. King’s Lynn is a growing town and we continue to look for other opportunities in similar thriving centres.”
Totalling 25,242 sq ft (2,345 sq m), the site comprises detached warehouse accommodation which is let in its entirety to Booker Ltd.