Acting on behalf of a private investor client, Franck-Steier Price have sold a single let trade investment on the edge of Malvern.
The property is located on the established commercial Malvern Business Centre and is part of a nine unit trade scheme which was built in 2007. Other occupiers on the scheme include Screwfix and Malvern Glass.
The property is a mid terrace unit let of 2,976 sqft and is let to City Plumbing Supplies Ltd on a 10 year FRI renewal from August 2017. The rent is £21,530 per annum equating to £7.23 per sqft. The tenant has an option to break at the end of Year 5.
The tenant has been in occupation since 2007 and refurbished the unit in 2015.
The investment was sold for £355,000, reflecting an initial yield of 5.84%. Mark Atkins Associates acted for the purchaser.