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Investor pays £4.1m for Planet Ice freehold
REAL estate investor AEW has purchased the freehold interest in Planet Ice in Central Milton Keynes for just over £4.1 million.
The 51,049 sq ft modern purpose-built unit, home to MK Lightning ice hockey team and located within Milton Keynes Leisure Park, has recently undergone a £5.8 million refurbishment.
Let on a new 20-year lease to Planet Ice (Milton Keynes), the investment provides annual rental income of £300,000, with five-yearly rent reviews.
AEW was advised by commercial real estate services specialist Avison Young. Principal, investment Tom Bridgman said: “We are delighted to have advised AEW on this core south east leisure investment. The opportunity provides our client with long-term income, with performance generated through indexation.”
Planet Ice was advised by Colliers.
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