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

October 2018

Unit 9, Mitchell Court, Castle Mound Way, Rugby, CV23 0UY

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The property is located on an established business park 2.8 miles north of Rugby town centre and adjacent to J1 of M6.  The property comprises a modern detached office building extending to 9,996 sq.ft over three storeys with 40 allocated car parking spaces.  Let to the strong covenant of FLSmidth (UK) Ltd on a 10 year lease expiring June 2024 providing an unbroken term of 5.75 years.  Passing rent of £115,805 per annum reflecting a low £11.50 per sq.ft.  Offers sought in excess of £1,325,000 reflecting an attractive net initial yield of 8.24% and a capital value of only £132.55 per sq.ft.