Frank-Steier Price Ltd. Leading niche commercial property investment practice Logo for Midlands Property Awards 09

Current Sales

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

Harcourt Trading Estate, Halesfield 13, Telford, TF7 4PL

The property is located on Halesfield Industrial Estate and comprises a multi let industrial estate arranged in two terraces.  The property extends to 10 units totalling 67,300 sq.ft.  The property is fully let to seven tenants with a WAULT of 3.09 years to breaks and 4.98 years to expiries.  Total income of £198,602 per annum (low average rent of £2.95 per sq.ft).  Offers sought in excess of £2,334,000 which reflects a net initial yield of 8.00%, a reversionary yield of 9.50% and an underlying capital value of only £34.68 per sq.ft.

More information

Peppermill Interiors, Unit 6 Chase Park Industrial Estate, Ring Road, Burntwood Business Park, Burntwood, WS7 3JQ

The property is prominently located on Burntwood Business Park close Cannock town centre, M6 Toll and A5.  The property comprises a detached industrial unit extending to 36,938 s.ft on a site of 2.08 acres.  Let to Peppermill Antiques Ltd on a lease expiring on 21 July 2020.  Rent £131,250 per annum which reflects only £3.55 per sq.ft.  Estimated rental value £166,220 per annum (£4.50 per sq.ft).  Offers sought in excess of £1,500,000 which reflects a net initial yield of 8.25%, a reversionary yield of 10.44% and a low underlying capital value of £40.60 per sq.ft.

More information

Waterloo Court, 31 Waterloo Road, Wolverhampton, WV1 4DJ

The property comprises a prominent multi-let office building located in Wolverhampton city centre.  The building totals 41,053 sq.ft over seven floors with 77 secure car spaces on site.  The property is 95% let to 14 tenants.  WAULT of 2.93 years to expiries and 2.37 years to breaks.  Current rent of £359,169 per annum (low average rent of only £8.92 per sq.ft).  Asset management opportunities.  Offers sought in excess of £3,200,000 which reflects a net initial yield of 10.54% and a reversionary yield of 11.07%.  The underlying capital value is only £77.95 per sq.ft.

More information

Homes Caring for Autism, 2 Durlston Gardens, Trowbridge, BA14 7JJ

The property comprises a purpose built car home that was constructed in 2012.  The property is let to Homes Caring for Autism Ltd for a term of 21 years from April 2012.  The lease is held on FRI terms subject to 5 yearly upward only reviews to compounded RPI.  Current rent £80,520 per annum.  Offers sought in excess of £1,215,000 reflecting a net initial yield of 6.25%, after purchasers costs of 5.97%.

More information

McDonald’s Drive Thru, Kingston Shopping Centre, Holderness Road, Hull, HU9 2AA

The property is prominently located on Holderness Road on the edge of Hull town centre and forms part of the Kingston Shopping Centre.  The property comprises a modern McDonald’s Drive Thru restaurant with a 24 hour licence.  The property is let to McDonald’s Restaurants Ltd for over 7 years at a rent of £74,640 per annum (low rent of £24.00 per sq.ft).  Offers sought in excess of £1,280,000 which reflects a net initial yield of 5.50%.

More information

Western Body Hardware, Crossgate Road, Park Farm Industrial Estate, Redditch, B98 7SN

sold

The property is located on Crossgate Road on the established Park Farm Industrial Estate in Redditch.  The property comprises a 39,725 sq.ft industrial unit on a site of 2 acres.  The property is let to Western Body Hardware Ltd on a 15 year lease from December 2010.  Annual RPI reviews with a collar and cap of 2% and 5%.  Current rent £129,806 per annum (£3.27 per sq.ft).  Expected rental increase in December 2017 to £134,608 per annum, based on forecast RPI.  Underlying capital value of £158,900 per annum (£4.00 per sq.ft).  Offers sought in excess of £1,500,000 which reflects a net initial yield of 8.16%, with an expected increase in December 2017 to 8.46% and a reversionary yield of 9.98%.  The price reflects a low capital value of £37.76 per sq.ft.

More information

Costa & British Heart Foundation, 14-16 St John Street, Ashbourne, Derbyshire, DE6 1GH

exchanged

The property is located in the attractive affluent market town of Ashbourne in the Derbyshire Dales.  The property is prominently situated in the prime retail pitch of St John Street.  The property comprises two ground floor retail units let to Costa Ltd and British Heart Foundation Ltd, with a WAULT of 4.9 years, and four residential apartments on the upper floors which are let on ASTs.  The total income is £69,190 per annum.  Offers are sought for the freehold interest in excess of £935,000 which reflects a net initial yield of 7.01%, after purchaser’s costs of 5.57%.

More information

The Courtyard, Solihull, 707 Warwick Road, Solihull, B91 3DA

under offer

The property comprises a prime multi-let office building in the heart of Solihull town centre.  The property is located adjacent to Mell Square Shopping Centre and with direct frontage onto Warwick Road.  Attractive modern courtyard office extending to 43,020 sq.ft arranged over a 9 courtyard scheme with the benefit of 153 car parking spaces providing an excellent ratio of 1:281 sq.ft.  WAULT of 5.38 years to expiry and 3.78 years to break.  Current void of 10,663 sq.ft providing excellent asset management opportunities.  Total passing rent of £558,223 per annum reflecting a low average rent of £17.29 per sq.ft.  Offers sought in excess of £7,500,000 which reflects a net initial yield of 6.98%, a capital value of £174 per sq.ft and a reversionary yield of 9.97% when fully let.

More information

St John’s Way Shopping Centre, Knowle, Solihull, B93 0LE

sold

The property comprises a rare opportunity to buy a shopping centre in a the highly desirable and affluent commuter village of Knowle.  The property comprises 32,096 sq.ft retail scheme with 24 retail units and upper floor residential apartments to part of the scheme.  The property is fully let to 23 tenants.  Current income £486,650 per annum with 29% secured to Tesco.  WAULT on the retail of 5.3 years to expiries and 3 years to breaks.  Considerable asset management initiatives and development opportunities.  Offers sought in excess of £5,700,000 which reflects a net initial yield of 8% and a reversionary yield of 9.1%.

More information

2 Barnsdale Court, Barnsdale Way, Grove Park, Leicester, LE19 1SN

sold

The property is located on Grove Park, the premier office and business park in the East Midlands.  The property comprises a modern two story office building built in 2005 and extending to 2,106 sq.ft.  The property is let to My Home Move Ltd for a term of 5 years with effect from 7 October 2016.  The lease is held on FRI terms and the current passing rent is £33,600 per annum (£15.95 per sq.ft).  Offers sought in excess of £490,000 which reflects a net initial yield of 6.55%, assuming costs of purchase of 4.74%.

More information