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

November 2019

Unit 1 First Avenue, Maybrook Industrial Estate, Minworth, Birmingham, B76 1BA

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The property comprises a single let industrial warehouse located in the prime industrial/distribution location of Minworth, 5.5 miles north east of Birmingham city centre.  The unit extends to 44,742 sq.ft on a self contained site.  Let to Net Lynk Direct Ltd on a 15 year lease from February 2012.  Passing rent of £234,730 per annum (low rent of £5.25 per sq.ft).  ERV £290,825 per annum (£6.50 per sq.ft).  Offers sought in excess of £3,830,000 which reflects a net initial yield of 5.75%, a reversionary yield of 7.13% and a low capital value of £85.60 per sq.ft.

Franck-Steier Price has recently completed the sale of a detached industrial unit investment on behalf of Brookshire Capital, having acquired it for them four years prior.

The unit lies at the front of Maybrook Industrial Estate in Minworth, just off the A38.

The 1980’s industrial building comprised 44,742 sqft of warehouse and integral offices plus an additional 8,893 sqft of mezzanine areas.

The property is let on a lease to Net Lynk Direct until February 2027. The passing rent is £234,730 per annum (only £5.25 per sqft) with an open market review in 2022.

The property was sold for £4,000,000 which represents a net initial yield of 5.51%.

Fulwell Capital acted for the purchaser.