The property is located on the Sandy Lane Industrial Estate in Stourport and comprises an eight unit multi-let starter unit industrial estate. The property is let to six tenants with two units currently vacant. Total current income £33,260 per annum. Offers sought in excess of £355,000 which reflects a net initial yield of 9.00% (assuming purchaser’s costs of 3.95%) with a reversionary yield of 11.78% based on the ERV. Low capital value of £36.73 per sq.ft.
Franck Steier Price has recently completed the sale of a multi let industrial investment on behalf of Dunedin.
The property was located in the established Sandy Lane industrial area on the edge of Stourport on Severn.
The terrace of 8 starter units extended to 9,665 sqft. Six were let to local companies and two vacant.
The combined rent was £33,260, an average of £4.59 per sqft.
The property was sold to a private property company for £400,000 which reflected a yield of 7.98%.