London investors predict ‘attractive yield’ on £5.7m Burnley acquisition

Investment business LXi REIT plc has acquired a car showroom in Lancashire.

Announced this morning (August 21), the £5.7m deal saw LXi purchase the Motorpoint dealership on Rosegrove Lane in Burnley.

The site is currently let to Motorpoint Limited, part of London Stock Exchange-listed vehicle retailer Motorpoint plc.

The property, which fronts the M65 motorway, includes a vehicle showroom, offices, sales area, café and compound storage across an 8.6-acre freehold site.

LXi said the transaction was funded through its Scottish Widows debt facility.

Simon Lee, partner at LXi REIT Advisors Limited, said: “This acquisition provides the company with additional long-term, secure and RPI-linked income at an attractive yield and further diversifies its sector exposure.

“The property benefits from a strong residual value and is one of the tenant’s top trading locations.”

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