Royal London Asset Management (RLAM), advised by Strutt & Parker, has agreed a pre-let with Volkswagen Group United Kingdom Limited, for a vehicle dealership building under construction on Plot 2, Cardinal Point Motor Park, Tamworth. The manufacturer group is taking a 25 year lease at a rent of £430,000 per annum and sub-letting to Lancaster plc. The pre-let marks the first for RLAM at its 6 acre retail park.

Cardinal Point forms part of the Ventura retail cluster a highly successful out of town retail location. The park, which is strategically placed adjacent to the A5, will sit on circa 6 acres of the 18 acre mixed use scheme. When completed the building will total 32,203 sq ft and will include an Audi showroom, service bay, parts store, staff facilities and office accommodation.

Bill Bexson, consultant to Strutt & Parker adds:

“This is the first pre-let on RLAM’s newly proposed motor park and we’re excited to have attracted such a strong tenant. We’re confident this will be the first of many tenants attracted to the park due to its excellent location, affluent catchment area and RLAM’s willingness to find solutions best suited to their needs.”

Robert Stephens & Co represented the Volkswagen Group United Kingdom Limited.

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