The property is located on the north-eastern edge of Eastwood between J26 and J27 of M1. The property is a detached industrial unit on a modern business park extending to 6,924 sq.ft on a large site of 1.05 acres (low site density of 15%). The property is let for a term of 6 years from 3 August 2018 to Off Limits Group Ltd with a tenant break option in August 2022. Current rent £43,000 per annum (£6.21 per sq.ft). Longer term development potential on part of the substantial yard/car park. Offers sought in excess of £500,000 which reflects a net initial yield of 8.25%.
Franck Steier Price has recently completed the sale of a single let industrial investment on behalf of Paloma Capital.
The property is located on a modern industrial estate close to both J26 & 27 of M1. The early 2000’s industrial/workshop unit sits on a 1.05 acre self contained site. There is the development potential for a further 10,000 sqft of accommodation on site.
The unit is a single bay unit extending to 6,924 sqft.
The unit was let to Off Limits Group Ltd on a newly re-geared 6 year term from 3 August 2018. The tenant has break option in August 2022. The passing rent is £43,000 (£6.21 per sqft).
The property was sold to a private company for £620,000 which reflected an initial yield of 6.6%.