Located directly east of Telford town centre and within a mile of J4 of M54. The property comprises a detached industrial unit on Telford’s principal industrial park of Stafford Park. The property extends to 42,824 sq.ft and is let on a 10 year lease from March 2012 to Engie Services Ltd at a rent of £160,590 per annum (low rent of £3.75 per sq.ft). Estimated rental value of £214,120 per annum (£5.00 per sq.ft). Offers sought in excess of £2,160,000 which reflects a net initial yield of 7.00%, a reversionary yield based on the ERV of 9.32% and a low underlying capital value of £50.44 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 trade counter operators include Edmundson Electrical, Dulux & Carwood.
The unit is a two bay distribution unit with ancillary offices on a site of 1.81 acres. The unit extends to 42,824 sqft.
The unit was let to Engie Services Ltd on a 10 year lease from March 2013. The current rent is £160,590 per annum (£3.75 per sqft). The lease had a Schedule of condition dating from 2012.
The property was sold to a private investor for £2,244,000 which reflected an initial yield of 6.73%.