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Current Sales

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

Units C, E & F, Stafford Park 6, Telford, TF3 3AT

Located directly east of Telford town centre and within a mile of J4 and M54.  The property comprises three modern detached industrial units located on Telford’s principal industrial park, Stafford Park.  The properties extend to a total area of 211,038 sq.ft and are fully let to three tenants with a WAULT of 7.69 years to expiries and 6.66 years to breaks.  Total rent of £980,980 per annum (low average rent of £4.65 per sq.ft).  Offers sought in excess of £14,000,000 which reflects a net initial yield of 6.57%, a reversionary yield of 7.06% based off ERV and a low capital value of £66.34 per sq.ft.

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Unit E, Stafford Park 12, Telford, TF3 3BJ

Located directly east of Telford town centre and within a mile of J4 of M54.  The property comprises a detached industrial unit on Telford’s principal industrial park of Stafford Park.  The property extends to 42,824 sq.ft and is let on a 10 year lease from March 2012 to Engie Services Ltd at a rent of £160,590 per annum (low rent of £3.75 per sq.ft).  Estimated rental value of £214,120 per annum (£5.00 per sq.ft).  Offers sought in excess of £2,160,000 which reflects a net initial yield of 7.00%, a reversionary yield based on the ERV of 9.32% and a low underlying capital value of £50.44 per sq.ft.

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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 years to break and 16.6 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 £2,740,000 which reflects a net initial yield of 6.50%.

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Prime Long Let Petrol Filling Station – Spar, Wolverhampton Road West, Willenhall, WV13 2RN

under offer

The property comprises a new build prime petrol filling station investment located under 1 miles from J10 of M6 motorway and 1 mile east of Willenhall town centre.  The property occupies an unopposed trading position on Wolverhampton Road West with 9,500 vehicle movements per day.  New build 8 pump fuel forecourt with large convenience store incorporating Greggs and Subway concessions.  24 hour operation.  Let to A.F Blakemore & Son Ltd (Dun & Bradstreet rating of 5A1) one the UK’s largest family owned wholesale distributor and retailer of food produce and the operation of grocery based convenience stores.  New 25 year lease without break.  Passing rent £200,000 per annum.  The rent is subject to index linked 5 yearly uplifts to RPI collared at 2% and capped at 4% per annum compounded.  Offers sought for the freehold interest in excess of £3,575,000 which reflects a net initial yield of 5.25%.

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Volvo, Bluebell Way, Preston, PR2 5PZ

The property comprises a new build prime car dealership investment located in the established car dealership area of Preston, 3 miles to the north of the city centre.  Situated on Bluebell Way the property occupies an extremely prominent site overlooking Junction 31A of the M6 and adjacent to the new Inchcape flagship Jaguar LandRover dealership.  The property will extend to 19,375 sq.ft on a site of 1.73 acres.  Practical completion of the property is scheduled for December 2019.  Let to the excellent covenants of Rybrook Cars Ltd with a guarantee from Rybrook Holdings Ltd, one of the UK’s largest independent car franchises.  To be let on a 20 year lease from Practical Completion with 5 yearly upward only reviews to the higher of OMV or CPI collared at 1% and capped at 2.5% per annum compounded.  Commencing rent of £300,000 per annum.  Offers sought on a forward commitment basis in excess of £5,360,000 which reflects a net initial yield of 5.25%.  Based on CPI of 2.5% per annum at this price the running yield will revert to 5.92% in year 5, 6.72% in year 10 and 7.60% in year 15.

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Apex Park, Worcester, WR4 9FN

The property is located on Apex Park in the prime out of town office location in Worcester, adjacent to Junction 6 of M5 and 4 miles north east of Worcester city centre.  The park benefits from excellent amenities with a Premier Inn, Tesco Express, Busy Bees Nursery, Greggs and a Beefeater Restaurant all within close proximity.  The scheme provides four detached office buildings constructed in 2008 to a Grade A specification and extending to 28.857 sq.ft.  The property is fully let to tenants including West Mercia Homes Ltd, Jelf Ltd, Lioncourt Homes Ltd and Arrow Business Communications with a WAULT of 6.50 years to break and 7.55 years to expiry.  Total passing rent of £458,948 per annum, reflecting a low average rent of £15.25 per sq.ft.  Reversionary potential with the latest letting completed at £16.27 per sq.ft providing future asset management opportunities.  Offers sought in excess of £6,375,000 which reflects a net initial yield of 6.75% and a reversionary yield of 7.26% based off ERV.

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Budget Greeting Cards Ltd, Unit 8 Centurion Business Park, Dabell Avenue, Nottingham, NG6 8WA

The property is located just over 2 miles north east of Junction 26 of M1 with easy access to Nottingham city centre.  Situated on Dabell Avenue, part of the Blenheim Industrial Area.  The property comprises a high specification detached modern warehouse extending to 40,468 sq.ft which was extensively refurbished earlier this year.  Let to Budget Greeting Cards Ltd, with a guarantee from Budget Trading Ltd, until 3 April 2029, with a tenant’s only break on expiry of the 5th year (4.5 years unexpired).  Current rent £212,500 per annum (£5.25 per sq.ft).  Offers sought in excess of £3,070,000 which reflects a net initial yield of 6.50% and a low capital value of £75.88 per sq.ft.

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2C & D, Wake Green Road, Moseley, Birmingham, B13 9EZ

The property comprises a prime neighbourhood retail investment located in the heart of the affluent Birmingham suburb of Moseley.  Located on Wake Green ROad 250m from the centre of Moseley and less than three miles from Birmingham city centre.  Two end terrace retail units with three residential apartments.  The retail units trade as Chemycare Pharmacy and Carter’s of Moseley, a renowned Michelin starred restaurant.  Long let with a WAULT of over 18.5 years to lease expiries with the three apartments let on ASTs.  Total passing rent of £73,200 per annum with the Chemycare Pharmacy subject to five yearly RPI rent reviews.  Freehold.  Offers sought in excess of £1,060,000 which reflects a net initial yield of 6.53%.  Consideration will also be given to a sale of the retail units only.

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Activity Centre and Car Park Investment – Copeland Street, Derby, DE1 2QD

under offer

The property is located in Derby city centre adjacent to the Intu Shopping Centre and within walking distance of both Derby Railway Station and the Cathedral Quarter.  It is also located adjacent to the Castleward Regeneration Area.  The property comprises a 14,092 sq.ft leisure unit and a 1,494 sq.ft industrial unit let to Time 2 Play on two new leases expiring 30 June 2034.  There is also a 15 space car park let to Excel Parking Services Ltd on a lease expiring 18 September 2023 (subject to landlord rolling break options).  WAULT of 13.9 years with a total income of £155,500 per annum.  Time 2 Play Ltd has recently completed an extensive £350,000 fit-out of the leisure unit as an indoor inflatable theme park.  Offers sought in excess of £1,500,000 which reflects an attractive net initial yield of 9.80%.

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Merry Hill Service Station, Pedmore Road, Brierley Hill, DY5 1DT

Modern petrol filling station with convenience store and car wash.  Located on the busy A4036 Pedmore Road, on the edge of the Merry Hill Shopping Centre.  Overall site of 0.48 acres.  Let to Snax 24 Ltd until August 2020.  Current passing rent £82,000 per annum.  Offers sought in excess of £1,190,000 which reflects a net initial yield of 6.50%.

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The Rex Centre, Maskew Avenue, Peterborough, PE1 2AS

under offer

The property comprises a modern self-contained two unit trade counter scheme located in an established retail and trade location.  The site adjoins A15 close to its junction with A47, 1.5 miles north of the city centre.  Two purpose built trade counter units extending to a total of 8,464 sq.ft 0n a site of 0.47 acres.  Let to the excellent covenants of Sally Salon Services Ltd and Multi-Tile Ltd (t/a Topps Tiles).  WAULT of 7.3 years to expiries and 2.3 years to break.  Multi-Tile elease has annual RPI linked rent reviews with a collar of 3% and cap of 5%.  Combined passing rent of £120,369 per annum, increasing to a minimum of £122,307 per annum in December 2019 and £124,304 per annum in December 2020.  Offers sought in excess of £1,620,000 which reflects a net initial yield of 7.00% reverting to 7.11% in December 2019 and 7.23% in December 2020.

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249 Silbury Boulevard, Milton Keynes, MK9 1NA

under offer

249 Silbury Boulevard is a prime multi-let office building positioned in the heart of the central business district of Milton Keynes.  It front Silbury Boulevard and is within a few minutes’ walk of the main retail pitch and Milton Keynes railway station.  The property comprises 20,894 sq.ft of offices over ground, first and second floors and has recently benefitted from a significant refurbishment programme.  Fully let to four tenants including the excellent covenants of Bank of Scotland plc and Hillier Hopkins LLP with a WAULT to break of 2.70 years and 6.16 to expiry.  Passing rent of £373,845 per annum (£17.89 per sq.ft).  Excellent reversionary potential with recent lettings reflecting £19.50 per sq.ft.  Offers sought in excess of £4,500,000 which reflects a net initial yield of 7.80%, a reversionary yield of 8.49% and a low capital value of £215 per sq.ft.

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Co-op, Goodison Boulevard, Bessacarr, Doncaster, DN4 6BT

under offer

The property comprises a convenience store forming part of a modern residential development.  The property is located in an established residential area 2.5 miles south-east of Doncaster town centre.  Ground floor retail unit of 3,736 sq.ft let to Co-operative Group Food Ltd on a 15 year term from 18 June 2007.  Passing rent of £49,140 per annum (£13.15 per sq.ft).  Offers sought in excess of £625,000 which reflects a net initial yield of 7.48%.

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South Moons Moat Industrial Estate, Redditch, B98 0RA

under offer

The property is located in the popular and established South Moons Moat industrial area of Redditch.  17 unit industrial estate extending to 13,152.26 sq.m (141,571 sq.ft) on a site of 3.68 hectares (9.10 acres).  Unit sizes ranging from 5.185 sq.ft to 20,222 sq.ft.  Fully let producing a total income of £722,940 per annum (low average rent of £5.11 per sq.ft).  ERV £797,212 per annum.  WAULT of 3.52 years to expiries.  Opportunities to drive rents based on rental lettings and rent reviews on the subject and nearby estates.  Offers sought in excess of £10,450,000 which reflects a net initial yield of 6.50%, a reversionary yield of 7.17% and a low capital value of £73.63 per sq.ft.

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

sold

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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