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

October 2018

Saville House, Middlemore Lane West, Aldridge, WS9 8BG

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under offer

The property is located west of Aldridge town centre, close to M6 Toll, M6 and A5.  The property is a detached industrial unit in an established industrial area extending to 20,912 sq.ft.  Let for a term of 15 years from 13 June 2012 to Mellish Engineering Services Ltd at a rent of £72,693 per annum (£3.48 per sq.ft).  Minimum RPI rental increase at review in June 2022.  Offers sought in excess of £950,000 which reflect a net initial yield of 7.25% with a projected reversionary yield at review of 8.19% (assuming 2.5% per annum RPI growth).  Low capital value of £45.43 per sq.ft.