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.

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%.

More information

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%.

More information

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%.

More information

15 Market Square, Witney, OX28 6AB

The property is located in the prime retail pitch in Witney adjacent to the Woolgate Shopping Centre.  The property comprises an attractive Grade II listed building with ground floor sales and storage and two upper floors of ancillary accommodation extending to a total of 3,226 sq.ft.  The property is let to Midland Leisure International Ltd until April 2028.  Current rent passing £69,005 per annum with a fixed increase to £76,187 per annum or open market value, whichever is higher, in 2023.  Offers sought in excess of £932,500 which reflects a net initial yield of 7.0% with a minimum reversion to 7.73% in 2023.

More information

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%.

More information

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

under offer

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%.

More information

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.

More information

Tesco Express & Residential Investment, 47-49 Hobs Moat Road, Solihull, B92 8JJ

under offer

The property is located on Hobs Moat Road in a densely populated residential area situated between Solihull and Sheldon.  The property comprises a ground floor retail unit with two three bedroom maisonettes above.  The ground floor unit is let to Tesco Stores Ltd for a term expiring in March 2030 with a tenant break option in March 2025.  The current rent is £42,000 per annum.  One of the flats is let on an AST with a rent of £8,340 per annum and the other flat has been sold off on a long leasehold basis with a ground rent of £115 per annum.  The total income is £50,455 per annum.  Offers sought in excess of £715,000 which reflects a net initial yield of 6.70%.

More information

Unit 22, Stafford Park 17, Telford, TF3 3DG

under offer

The property is located directly to the east of Telford town centre and within a mile of J4 of M54.  The property is a detached industrial unit on Telford’s premier industrial park extending to 10,157 sq.ft.  Let on a 25 year lease from 25 March 1997 to Ammeraal Beltech Ltd at a rent of £50,000 per annum (£4.92 per sq.ft).  ERV £53,325 per annum (£5.25 per sq.ft).  Offers sought in excess of £680,000 which reflects a net initial yield of 7.00% with a reversionary yield of 7.47%.

More information

Units 8 & 9, Stafford Park 12, Telford, TF3 3BJ

under offer

The property is located directly to the east of Telford town centre and within a mile of J4 of M54.  The property is a detached industrial unit on Telford’s premier industrial park extending to 73,140 sq.ft.  Let on a 10 year lease renewal from 27 August 2018 to Denwells Ltd at a rent of £255,474 per annum (£3.49 per sq.ft).  Minimum rental increase at review in August 2023 to £275,848 per annum (£3.77 per sq.ft).  Offers sought in excess of £3,200,000 which reflects a net initial yield of 7.50% with a minimum reversion at review to 8.10%.  Low capital value of £43.75 per sq.ft.

More information

Unit D, Stafford Park 7, Telford, TF3 3BQ

under offer

The property is located directly east of Telford town centre and within a mile of J4 M54.  The property is a detached industrial unit on Telford’s principal industrial park and extends to 50,488 sq.ft.  Large site with 0.6 acres of expansion/development land to the rear of the unit.  Let for a term of 10 years from 9 June 2017 to Arconic Fastening Systems & Rings Ltd.  Tenant option to break June 2022.  Rent £185,000 per annum (£3.66 per sq.ft).  ERV £239,820 per annum (£4.75 per sq.ft).  Offers sought in excess of £2,485,000 which reflects a net initial yield of 7.00% and a reversionary yield of 9.07%.  Low capital value of £49.22 per sq.ft.

More information

Moregreen Business Park, 3 Coombe Road, Eastwood, Nottingham, NG16 3SU

under offer

The property is located on the north-eastern edge of Eastwood between J26 and J27 of M1.  The property is a detached industrial unit on a modern business park extending to 6,924 sq.ft on a large site of 1.05 acres (low site density of 15%).  The property is let for a term of 6 years from 3 August 2018 to Off Limits Group Ltd with a tenant break option in August 2022.  Current rent £43,000 per annum (£6.21 per sq.ft).  Longer term development potential on part of the substantial yard/car park.  Offers sought in excess of £500,000 which reflects a net initial yield of 8.25%.

More information

99 Amington Road, Tyseley, Birmingham, B25 8EP

under offer

The property is located 4 miles south east of Birmingham city centre in an established industrial area, just off A45 dual carriageway.  The property is a modern detached industrial unit extending to 25,016 sq.ft.  Let for a term of 10 years from 9 March 2017 to Mata Automotive UK Ltd, with a tenant break option in March 2022.  Rent £100,000 per annum (£4.00 per sq.ft).  ERV £125,100 per annum (£5.00 per sq,ft).  Offers sought for the long leasehold interest in excess of £1,215,000 which reflects a net initial yield of 7.75% with a reversionary yield of 9.70%.  Low capital value of £48.56 per sq.ft.

More information

Saville House, Middlemore Lane West, Aldridge, WS9 8BG

under offer

The property is located west of Aldridge town centre, close to M6 Toll, M6 and A5.  The property is a detached industrial unit in an established industrial area extending to 20,912 sq.ft.  Let for a term of 15 years from 13 June 2012 to Mellish Engineering Services Ltd at a rent of £72,693 per annum (£3.48 per sq.ft).  Minimum RPI rental increase at review in June 2022.  Offers sought in excess of £950,000 which reflect a net initial yield of 7.25% with a projected reversionary yield at review of 8.19% (assuming 2.5% per annum RPI growth).  Low capital value of £45.43 per sq.ft.

More information

32-36 Castle Street, Hinckley, LE10 1DB

under offer

The property is located in the prime retail pitch of Hinckley town centre.  The property comprises a 19,927 retail unit arranged over ground floor sales and two upper floors of ancillary accommodation.  The property is let to B&M Retail until December 2023 at a rent of £117,000 per annum which reflects a low rent of £5.87 per sq.ft.  Offers sought in excess of £1,225,000 which reflects a net initial yield of 9.00%.

More information

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

under offer

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.

More information

Prime South East Multi-let Industrial Investment – Nimbus Park & 10/10a Foster Avenue, Dunstable

sold

The properties are excellently located within the established industrial area of Woodside Estate, Dunstable.  Nimbus Park us a modern 8 unit industrial estate totalling 12,922.98 sq.m (139,103 sq.ft) and 10/10a Foster Avenue is a modern semi-detached unit totalling 1,731.60 sq.m (18,639 sq.ft).  Fully let producing a total income of £1,133,484 per annum, equating to a low average rent of £7.19 per sq.ft.  WAULT to breaks 4.96 years and 7.54 years to expiries.  Significant reversionary potential as referenced by the latest letting on the park on Unit 5 at an overall rent of £9.69 per sq.ft.  Both properties are held freehold.  Offers sought in excess of £21,236,000 which reflects a net initial yield of 5.00% and a reversionary yield of 6.23%, assuming costs of purchase of 6.75%.

More information

Hill Court Shopping Centre, High Street, Paulton, Bath, BS39 7QC

under offer

The property comprises a multi-let neighbourhood shopping scheme with car parks to the front and rear of the property.  The property comprises seven retail units totalling 8,655 sq.ft with four, two bed flats above.  Total passing rent of £116,090 per annum.  47% of the income is secured to Radstock Co-operative Society Ltd for 15 years.  WAULT of over 10 years to breaks.  Asset management angles with existing tenants.  Offers sought in excess of £1,500,000 which reflects a net initial yield of 7.29%.

More information

63 Church Street, Birmingham, B3 2DP

sold

The property comprises a refurbished multi-let office building in Birmingham’s central office core.  16,111 sq.ft in total providing suites from 850-3,645 sq.ft.  Fully let with a WAULT of 6.4 years to expiries and 3.5 years to breaks.  Current income £311,238 per annum.  Held long leasehold for a term of 125 years with a current ground rent of £20,713 per annum.  Offers sought in excess of £3,635,000 which reflects a net initial yield of 7.5% and a low underlying capital value of £225 per sq.ft.

More information

Screwfix, Ripon Road Industrial Estate, Ripon Way, Harrogate, HG1 2AU

sold

The property is located one mile north-west of Harrogate town centre on A61 Ripon Road.  The property comprises an end of terrace trade counter unit of 12,043 sq.ft.  Let to Screwfix Direct Ltd for a term of 10 years from 28 June 2012.  Rent £67,000 per annum.  Offers sought in excess of £905,000 which reflects a net initial yield of 7.0%, assuming purchaser’s costs of 5.68%.

More information