4-7 Stretton Business Park, Burton Upon Trent, DE13 0BY
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Acting on behalf of Stenprop a multi let industrial investment was acquired on a prominent industrial estate at the northern end of Burton, close to the A38 junction.
The property is a four unit industrial terrace built in 2008. The building extends in total to 43,489 sqft and is arranged as two units. Unit 4 extends to 10,452 sqft and Units 5-7 33,037 sqft.
Unit 4 was let in early 2020 on a 5 year term with a tenant break option at Year 3. The current passing rent is £65,340 – £6.25 per sqft overall. Units 5-7 are let to Knorr Bremse Rail Systems on a 9 year lease from December 2018, the tenant has a break option at the end of 2021. The passing rent is £212,500 – £6.43 per sqft, there is an RPI review in December 2021.
The building was acquired for £3,750,000 reflecting a yield of 6.96% and an underlying capital value of only £86 per sqft overall.
Knight Frank acted for the vendor.
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