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December 2018

Moregreen Business Park, 3 Coombe Road, Eastwood, Nottingham, NG16 3SU

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sold

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%.

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