The property is located directly east of Telford town centre and within a mile of J4 M54. The property is a detached industrial unit on Telford’s principal industrial park and extends to 50,488 sq.ft. Large site with 0.6 acres of expansion/development land to the rear of the unit. Let for a term of 10 years from 9 June 2017 to Arconic Fastening Systems & Rings Ltd. Tenant option to break June 2022. Rent £185,000 per annum (£3.66 per sq.ft). ERV £239,820 per annum (£4.75 per sq.ft). Offers sought in excess of £2,485,000 which reflects a net initial yield of 7.00% and a reversionary yield of 9.07%. Low capital value of £49.22 per sq.ft.
Franck Steier Price has recently completed the sale of a single let industrial investment on behalf of Paloma Capital.
The property is located just off J4 of M54 on the established Stafford Park estate. Nearby operators include DHL & Kuhn. The two bay distribution was built in the mid 1980’s and was substantially refurbished in 2017. The unit has an eaves height of 7m. The site extends to 3.82 acres including approximately 0.6 acres of undeveloped expansion land.
The unit is a two bay distribution unit with ancillary offices extending to 50,488 sqft.
The unit was let to Arconic Fastening Systems & Rings Ltd on a 10 year term from 9 June 2017. The tenant has a break option in June 2022. The passing rent is £185,000 (£3.66 per sqft).
The property was sold to a private investor for £2,750,000 which reflected an initial yield of 6.32%. Andrew Dixon & Co acted for the purchaser.