The property is located directly to the east of Telford town centre and within a mile of J4 of M54. The property is a detached industrial unit on Telford’s premier industrial park extending to 73,140 sq.ft. Let on a 10 year lease renewal from 27 August 2018 to Denwells Ltd at a rent of £255,474 per annum (£3.49 per sq.ft). Minimum rental increase at review in August 2023 to £275,848 per annum (£3.77 per sq.ft). Offers sought in excess of £3,200,000 which reflects a net initial yield of 7.50% with a minimum reversion at review to 8.10%. Low capital value of £43.75 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 2.72 acres. The unit extends to 73,140 sqft including 8,326 sqft landlord concrete mezzanine.
The unit was let to Denwells Ltd who recently renewed on a 10 year lease from 27 August 2018. The current rent is £255,474 per annum (£3.49 per sqft) with a minimum rental increase at review to £275,848 per annum.
The property was sold to a private investor for £3,299,000 which reflected an initial yield of 7.27%. Andrew Dixon & Co acted for the purchaser.