Franck-Steier Price has recently concluded the acquisition of a newly let trade unit on Stafford Park 4, Telford.
The property is located in the town’s main trade area. Other trade occupiers in the immediate area include Screwfix, HSS Hire, Topps Tiles, Greggs and Howdens.
The property was let on a new 10 year lease to Toolstation Ltd at £22,500 per annum. The lease has a tenant option to break at the expiry of Year 7. The initial rent agreed was £22,500 per annum – £4.50 per sqft.
The property was acquired for a private client who paid £287,500, reflecting an initial yield of 7.59%.
Harris Lamb acted for the vendor.