The property is located 2 miles from Junction 10 of M6 and is situated in a prominent position at front of Stringes Close industrial estate. The property comprises a semi detached industrial unit extending to 18,765 sqft. Let to Gamestec Leisure Ltd on a lease expiring in July 2017. Passing rent of £64,300 per annum (£3.43 per sqft). Offers sought in excess of £610,000 which reflects a net initial Yield of 10% and an underlying capital value of £32.50 per sqft, assuming purchaser’s costs of 5.14%.
Franck Steier Price has recently completed the sale of a single let industrial investment on behalf of Dunedin.
The property was located in an established industrial area on Stringes Close, Willenhall.
The 1970s semi detached industrial unit with ancillary offices extended to 18,765 sqft on a site of 0.81 acres.
The property was let to Gamestec Leisure Ltd until 9 July 2017 The rent was £64,300 – £3.43 per sqft.
The property was sold to a private property company for £650,000 which reflected a yield of 9.4% and a capital value of £34.64 per sqft.