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

March 2020

Link House, Halesfield 6, Telford, TF7 4LN

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The property is located on Telford’s established Halesfield Industrial Estate, 3.5 miles from J4 & 5 of M54 Motorway.  The property comprises a 2.5 bay detached warehouse with separate two storey detached office building on a prominent site at the corner of Halesfield 1 and Halesfield 7.  The property extends to a total floor area of 134,012 sq.ft on a site of 5.92 acres with dual loading on the northern and southern elevations.  Let to Whittan Industrial Ltd on a full repairing and insuring lease expiring 16 July 2027, providing in excess of 7.35 years unexpired.  The current rent is £664,788 per annum (£4.95 per sq.ft) with a fixed increase at rent review to £770,672 per annum in July 2022.  The property is held virtual freehold for a term of 999 years from July 2002 on a peppercorn rent.  Offers sought in excess of £6,560,000 (Six Million Five Hundred and Sixty Thousand Pounds) which reflects a net initial yield of 9.50%, a low capital value of £48.95 per sq.ft, and a reversionary yield of 11.02% following the fixed increase in July 2022.