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Current Sales

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

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.

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The Crystal Centre Retail Park, Platts Road, Stourbridge, DY8 4AJ

The property comprises a modern terrace of 5 retail warehouse units totalling 14,987 sq.ft.  The scheme is highly prominent and is located at the junction of Platts Road and the busy A491 Audnam High Street, one of the main arterial routes into Stourbridge and benefitting from 23,359 car movements daily.  The property is fully let to 5 strong covenants including Tesco, Halfords, Bathstore, Pizza Hut, and KFC with an attractive WAULT of 4.11 years term certain.  The total rental income is £213,422 per annum.  79% of the rental income is secured against tenants with a D&B rating of 5A1.  Offers sought in excess of £2,430,000 which reflects an attractive net initial yield of 8.25%, after purchaser’s costs of 6.37%.

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

sold

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.

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

under offer

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%.

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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%.

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