Frank-Steier Price Ltd. Leading niche commercial property investment practice Logo for Midlands Property Awards 09

January 2018

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

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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.

Franck Steier Price has recently completed the sale of a multi let industrial estate investment on behalf of a property company client.

The property is located on the established Halesfield Industrial Estate south of Telford town centre.

The property comprises a 10 unit estate arranged in two terraces dating from the 1970’s. The total estate extends overall to 67,300 sqft.

The estate is let to six tenants with one unit vacant (during the sales process). The income was therefore £177,259 per annum. The WAULT was just under 5 years to expiries and 3 years to breaks. The average rent on the estate was £2.95 per sqft, the ERV was £235,425 per annum.

The property was sold to Hansteen for £2,259,000 which reflected an initial yield of 7.38% and a reversionary yield of 9.8%.