The property is located in an established industrial and trade counter area 2.5 miles east of Wolverhampton city centre and 4.5 miles from J10 of M6. The property comprises a modern end terrace industrial unit extending to 11,052 sq.ft. Let to HPAS t/a Safestyle UK on a new 10 year lease. Rent £60,967 per annum (£5.49 per sq.ft). Offers sought in excess of £885,000 per annum which reflects a net initial yield of 6.52%, assuming purchaser’s costs of 5.66%.
Franck Steier Price has recently completed the sale of a well let industrial investment on behalf of Paloma Capital.
The property is located on Key Industrial Park, an established industrial/trade location just off Nechells Lane in Wednesfield.
The property comprised an end terraced unit of 11,052 sqft which had recently been let to HPAS Ltd, t/a Safestyle UK. The company took a 10 year lease from March 2018 at an initial rent of £60,967 per annum.
The property was sold to a private client of CBRE for £970,000 which reflected an initial yield of 5.95%.