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

October 2018

Multi-let Industrial Investment, 37-48 Evelyn Street, Beeston, Nottingham, NG9 2EU

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under offer

The property is located immediately to the west of Queens Road (A6005) in a predominantly residential area in close proximity to Beeston town centre.  The property comprises 7 industrial units arranged in two terraces totalling 48,658 sq.ft.  The property is fully let to six tenants producing a total passing rent of £221,081 per annum which reflects a low average rent of £4.54 per sq.ft.  The WAULT to breaks is 2.5 years and expiries is 5.3 years.  The ERV is £239,100 per annum.  Offers sought in excess of £2,865,000 which reflects a net initial yield of 7.25% and a reversionary yield based on the ERV of 7.84%.  Underlying capital value of only £58.88 per sq.ft.