6th April 2016
Newport Syndicate Sorted
Rougemont completed the purchase of the Royal Mail Sorting Centre in Newport for £1.7m.
A modern 21,713 sq. ft. sorting centre is situated in Newport City Centre, next to the Central Railway Station and Royal Mail recently installed a full automated sorting line within the warehouse and decided to extend their lease agreement on the building. The new extended lease expires in August 2030, with a tenant’s break option in August 2025.
The Royal Mail Newport Syndicate will benefit from a 7.00% p.a. Annual Return, distributed quarterly in advance, with a guaranteed upwards only rent review linked to the increase in the Retail Price Index in 2020.