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Current Sales

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

Strong’s Plastics, Silica Road, Amington Industrial Estate, Tamworth, B77 4DT

The property is located 1.5 miles north-west of J10 of M42 and under two miles from Tamworth town centre.  The property comprises a detached industrial unit extending to 21,609 sq.ft on a site of 1.23 acres.  The property is let to Strong’s Plastics Products Ltd on a 8 year reversionary lease expiring 20 September 2023 (4.4 years unexpired).  Tenant has been in occupation since 2005 and has invested heavily in the unit.  Rent £100,000 per annum reflecting a low rent of £4.91 per sq.ft.  ERV £121,750 per annum (£6.00 per sq.ft).  Offers sought in excess of £1,400,000 which reflects a net initial yield of 6.73%, a reversionary yield of 8.20% and a low capital value of £64.78 per sq.ft.

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Assa Abloy Ltd, Cannock Road, Wolverhampton, WV10 0RR

The property is located one mile from Wolverhampton city centre and three miles from J1 of M54.  The property comprises a detached distribution unit extending to 120,562 sq.ft on a site of 6.84 acres.  The property is designated within Wolverhampton City Council’s Local Plan for housing, providing a long-term redevelopment opportunity.  Let to the D&B 5A1 rated covenant of Assa Abloy Ltd until July 2023 (4.2 years unexpired).  Rent £512,000 per annum reflecting a low rent of £4.25 per sq.ft.  The rent is reviewed upwards only in July 2021 to RPI collared at 2% and capped at 4% per annum compounded.  Offers sought in excess of £6,400,000 which reflects a net initial yield of 7.50%, a reversionary yield of 8.44% (assuming RPI growth of 3% per annum) and a low capital value of £53 per sq.ft.

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Peugeot & Nissan, Wheatley Hall Road, Doncaster, DN2 4LT

The property comprises a modern car dealership located in Doncester’s prime car showroom location, fronting onto A630 Wheatley Hall Road, with over 25,000 vehicles passing the property daily.  The property extends to 28,881 sq.ft accross three buildings on a site of 3.09 acres.  Let to the strong covenant of Pendragon Property Holdings Ltd on three co-terminus leases until June 2033 (14.1 years unexpired).  The rent is reviewed 5 yearly to 3% per annum compounded fixed increases with the next review in June 2023.  Rent £345,395 per annum reflecting a low overall rent of £11.96 per sq.ft.  Offers sought in excess of £5,400,000 which reflects a net initial yield of 6.00% reverting to 7.00% in June 2023 and 8.00% in June 2028.

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

sold

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

exchanged

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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