The property is prominently located on Burntwood Business Park close Cannock town centre, M6 Toll and A5. The property comprises a detached industrial unit extending to 36,938 s.ft on a site of 2.08 acres. Let to Peppermill Antiques Ltd on a lease expiring on 21 July 2020. Rent £131,250 per annum which reflects only £3.55 per sq.ft. Estimated rental value £166,220 per annum (£4.50 per sq.ft). Offers sought in excess of £1,500,000 which reflects a net initial yield of 8.25%, a reversionary yield of 10.44% and a low underlying capital value of £40.60 per sq.ft.
Franck Steier Price has recently completed the sale of a single let industrial investment on behalf of a property company client.
The property is located on the established Burntwood Business Park just north of the A5 and M6 Toll.
The property comprises a detached industrial unit dating from the 1970’s which is arranged in four bays and extends overall to 36,938 sqft.
The property is let to Peppermill Antiques Ltd on a 5 year term from July 2015. The passing rent is £131,250 per annum reflecting £3.55 per sqft.
The property was sold to a private property company client of Andrew Dixon & Co for £1,727,000 which reflects a yield of 7.16%.