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

August 2019

Unit 11, Waterfall Lane Trading Estate, Cradley Heath, B64 6PU

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under offer

The property is well located on the established Cradley Heath Industrial Estate.  The property comprises a 6 bay 39,461 sq.ft detached industrial unit.  The property is let to ATB Group UK Ltd on FRI terms for 10 years from June 2018.  There is a tenant break option in June 2023, subject to 6 months notice.  Passing rent is £130,000 per annum, reflecting a low £3.29 per sq.ft.  Tenure long leasehold expiring September 2996 at a fixed rent of £100 per annum.  Offers sought in excess of £1,275,000 which reflects a net initial yield of 9.61% and a low capital value of £32.31 per sq.ft.