The property is located 1.5 miles north-west of J10 of M42 and under two miles from Tamworth town centre. The property comprises a detached industrial unit extending to 21,609 sq.ft on a site of 1.23 acres. The property is let to Strong’s Plastics Products Ltd on a 8 year reversionary lease expiring 20 September 2023 (4.4 years unexpired). Tenant has been in occupation since 2005 and has invested heavily in the unit. Rent £100,000 per annum reflecting a low rent of £4.91 per sq.ft. ERV £121,750 per annum (£6.00 per sq.ft). Offers sought in excess of £1,400,000 which reflects a net initial yield of 6.73%, a reversionary yield of 8.20% and a low capital value of £64.78 per sq.ft.
Franck Steier Price has recently completed the sale of a single let industrial unit investment on Amington Industrial Estate in Tamworth for Brookshire Capital.
The two bay industrial unit was developed in the early 1990’s and has an eaves height of 7.0m. There are ancillary two storey offices to the front. There is a side yard and parking to the front.
The unit extended to 21,609 sqft on a site of 1.23 acres which gave a site coverage of only 35%.
The property was let to Strong’s Plastic Products Ltd for a term expiring September 2023. The current rent is £100,000 per annum – £4.91 per sqft.
The property was sold to a private client of Andrew Dixon & Co for £1,550,000 which reflected an initial yield of 6.08%.