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Current Sales

Please view our current properties below. A downladable PDF is available by following the link where applicable.

Unit D4C, Coombswood Business Park, Halesowen, B62 8BH

under offer

The property is located on Coombswood Business Park, Halesowen, 3 miles from Junction 3 of M5 and 6 miles west of Birmingham city centre.  The property comprises a 2007 built unit extending to 7,155 sq.ft.  The unit is let to the excellent covenant of Samworth Brothers Ltd (D&B 5A1) for a term of 15 years expiring 24 April 2022 – 3.25 years unexpired.  Passing rent of £48,084.78 per annum – reflecting £6.72 per sq.ft.  Offers are sought in excess of £715,000 reflecting a net initial yield of 6.38% assuming purchaser’s costs of 5.33%.

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Formula One Autocentres, Adcock Road, Coalville, Leicestershire, LE67 3NU

under offer

The property is located 1 mile north of Coalville town centre, 4 miles from J22 M1 and 3 miles from J13 A42/M42.  The property comprises a newly refurbished roadside unit extending to 7,933 sq.ft and benefits from 32 car parking spaces on a site of 0.56 acres.  The property is let to Formula One Auto Centres Ltd on a new 15 year lease at a passing rent of £65,000 per annum.  Offers sought in excess of £1,070,000 reflecting an attractive net initial yield of 5.74% assuming costs of 5.82%.

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Travelodge Hotels Ltd & Costa Ltd, William Street, Workington, Cumbria, CA14 3YG

under offer

The property is located in Workington town centre in proximity to the prime retail pitch.  The property comprises a new build 78 bedroom hotel with bar/cafe and integral Costa Coffee unit with drive-thru lane and a shared 94 space car park.  The hotel is pre-let to Travelodge Hotels Ltd for 25 years with 5 yearly reviews to compounded RPI collared at 1% and capped at 4% per annum.  The coffee unit is pre-let to Costa Ltd for 15 years with 5 yearly reviews to compounded RPI collared at 1% and capped at 3% per annum.  Total income £418,800 per annum.  The development has received full planning consent.  Practical completion November 2019.  Offers sought for the forward funding of the investment in excess of £6,830,000 which reflects a net initial yield of 5.75%, assuming full costs of purchase on the site of 6.65%.

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2 Central Park Lenton Lane, Nottingham, NG7 2NR

The property comprises a wholly refurbished single let office building on the edge of Nottingham city centre.  The property extends to 31,802 sq.ft over three floors with 121 external car parking spaces (low car parking ratio of 1:262 sq.ft).  Let to Siemens plc on a 10 years lease from 11 September 2017 (tenant break option in September 2022).  Current passing rent of £397,522 per annum (low rent of £12.50 per sq.ft).  Offers sought in excess of £5,000,000 which reflects a net initial yield of 7.50%.

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Guildhall Buildings, Navigation Street, Pinfold Street & Stephenson Street, Birmingham, B2 4BT

The property is located at the heart of Birmingham’s gateway adjacent to both Birmingham New Street and the Metro tram extension as well as being in close proximity to New Street’s prime retail pitch.  The property comprises a substantial period building extending to 32,442 sq.ft across basement, ground floor retail and four upper floors of office accommodation.  5,254 sq.ft of vacant accommodation with a WAULT of 4.07 years to expiry and 3.23 years to break.  Initial income £875,000 per annum.  Reversionary potential of £975,000 per annum on letting the vacant space.  Offers sought in excess of £12,330,000 which reflect a net initial yield of 6.65% and a reversionary yield of 7.41%.

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Northampton House, 1-3 High Street & 53-55 Poplar Road, Solihull, B91 3AP

The property is located in Solihull town centre opposite the Poplar Arcade entrance into Touchwood on the corner of High Street and Poplar Road.  The property comprises a ground floor convenience store with separate upper floor offices.  The convenience store is let to Tesco Stores Ltd on a new 20 year lease, 10 year tenant break option, with 5 yearly upward only reviews to RPI, collared at 0% and capped at 2.5% per annum compounded.  The WAULT across the property is 8.9 years to break and 17.6 years to expiries.  The average rent on the office accommodation is low at £12.47 per sq.ft.  The total rent is £189,532 per annum.  Offers sought in excess of £3,095,000 which reflects a net initial yield of 5.75%.

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Well Let Residential Investment Portfolio – Wolverhampton

The portfolio comprises three licenced residential HMO investment properties, all located on the western edge of Wolverhampton city centre.  The properties are in close proximity to Chapel Ash local amenities, Marston’s Brewery HQ and Wolverhampton University.  18 rooms in total.  Excellent occupational history with many tenants long term residents.  Current net rental income, after operational expenses, of £60,810 per annum.  Offers are sought in excess of £600,000 representing an attractive net initial yield of 9.65%.

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39-49 Oulton Rise, Spinney Hill, Northampton, NN3 6EW

The property comprises a multi-let neighbourhood parade in the residential area of Spinney Hill, opposite Northampton School for Girls.  The property comprises four ground floor retail units anchored by Co-op with four residential flats above which have been sold off on a long leasehold basis.  The property is fully let with a WAULT to expiries 8.5 years and 5.9 years to breaks.  Current combined passing rent of £59,337 per annum.  Offers sought in excess of £690,000 which reflects a net initial yield of 8.16%.

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Multi-let Industrial Investment, 37-48 Evelyn Street, Beeston, Nottingham, NG9 2EU

under offer

The property is located immediately to the west of Queens Road (A6005) in a predominantly residential area in close proximity to Beeston town centre.  The property comprises 7 industrial units arranged in two terraces totalling 48,658 sq.ft.  The property is fully let to six tenants producing a total passing rent of £221,081 per annum which reflects a low average rent of £4.54 per sq.ft.  The WAULT to breaks is 2.5 years and expiries is 5.3 years.  The ERV is £239,100 per annum.  Offers sought in excess of £2,865,000 which reflects a net initial yield of 7.25% and a reversionary yield based on the ERV of 7.84%.  Underlying capital value of only £58.88 per sq.ft.

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Unit 9, Mitchell Court, Castle Mound Way, Rugby, CV23 0UY

sold

The property is located on an established business park 2.8 miles north of Rugby town centre and adjacent to J1 of M6.  The property comprises a modern detached office building extending to 9,996 sq.ft over three storeys with 40 allocated car parking spaces.  Let to the strong covenant of FLSmidth (UK) Ltd on a 10 year lease expiring June 2024 providing an unbroken term of 5.75 years.  Passing rent of £115,805 per annum reflecting a low £11.50 per sq.ft.  Offers sought in excess of £1,325,000 reflecting an attractive net initial yield of 8.24% and a capital value of only £132.55 per sq.ft.

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