FSP has recently completed the acquisition of a modern detached industrial investment on behalf of a private investor.
The property is located on the established Berkeley Magna Industrial Estate, 0.75 miles to the south of Long Eaton and six miles to the west of Nottingham city centre. The property comprises a 1999 built detached industrial unit on a site of 1.82 acres. The property has five level access loading doors, an eaves height of 5.70m, a large loading yard and staff car parking areas on either gable end elevation. The property extends to 24,144 sq.ft.
The property is let DFS Trading Ltd for a further 10 years. The lease is held on full repairing and insuring terms with five yearly upward only rent reviews to open market value. The current rent is £116,357 per annum which reflects £5.10 per sq.ft assuming a 50% rate on the two mezzanine floors in the unit.
The property sold for £2,000,000 which reflects a net initial yield of 5.50%.