Portion of DFS property assets for sale

Fri, 07 Feb 2014 | COMMERCIAL PROPERTY

A set of DFS retail warehouse and manufacturing assets have been placed on the market by LondonMetric Property, after its purchase of a 27-strong DFS property portfolio at the end of last year.

The assets for sale are four retail warehouses and three warehouse and manufacturing units, let to DFS Trading, and have over 16 years left on the leases. DFS stores in Scunthorpe, Doncaster, Matlock and Hull, are included, along with a warehouse in Doncaster and two manufacturing sites in Alfreton and Doncaster.

LondonMetric paid £175 million for the properties used by the sofa retailer from the administrators to Delphi Properties, which had purchased the portfolio in a sale and leaseback arrangement in 2005.

The portfolio for sale, which is being marketed through Savills and Allsop, is made up of five freeholds and two leaseholds, with a total rent of £2.3 million, and encompasses over 279,561 sq. ft. of space.

LondonMetric has certainly been busy recently. It embarked on an ‘intense level’ of investment in the last quarter of 2013, buying up £201.9 million worth of properties and making £129.7 million of disposals.

In amongst other buys it has newly snapped up a Royal Mail distribution centre in Daventry for £36 million and paid £13 million for Superdrug’s distribution centre in Doncaster and several ‘out of town’ cinema complexes.

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