Estates Gazette reports that British Car Auctions, Europe's largest car auctioneer, has brought a £317m sale-and-leaseback portfolio to market through CB Richard Ellis seeking a 5.4% yield.
The firm's 17 freehold auction rooms include a total 170 acres of land with development potential. The company plans to take 30- to 35-year leases on the properties at rents based on current operating profits and subject to fixed, inflation-linked uplifts.
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Monday, June 18, 2007
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