Unit 1, Holly Park Industrial Estate, Erdington, Birmingham, B24 9PD
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Acting on behalf of a local private investment company Franck-Steier Price Ltd (FSP) has acquired an off market industrial investment on a prominent industrial estate in Erdington, close to the A38 on the edge of Birmingham. This was the second acquisition in the terrace for the client in the last twelve months having previously bought Units 4&5 in 2019.
The end unit is part of a five unit industrial terrace. The building extends in total to 11,733 sqft.
The unit was let to Capita Business Services Ltd on a 10 year lease from February 2017.There is a tenant break option in February 2024. The tenant did not exercise their February 2020 break option. The current passing rent is £57,000 – £4.86 per sqft overall.
The building was acquired for £815,000 reflecting a yield of 6.63% and an underlying capital value of only £69.50 per sqft overall.
Godfrey Payton acted for the vendor.
August 2020
