Brockhurst Crescent, Walsall, WS5 4AX
Make an enquiry
Franck-Steier Price Ltd (FSP) has recently completed the acquisition of three industrial properties on Brockhurst Crescent, Walsall, on behalf of AEW.
The properties are close to J9 of M6 on the edge of Walsall in an established industrial area.
The three properties totalled 136,171 sqft and were let to Tata Steel and Micheldever Tyre Services on leases expiring in 2021 and 2022. The combined rent was £403,115 with fixed uplifts increasing income to £449,218 by August 2017.
The properties were purchased for £3,850,000 which represents a net initial yield of 9.9% and a reversionary yield of 11.03% by August 2017, assuming full costs of purchase of 5.8%.
Halls Commercial acted for the vendor.
The properties are close to J9 of M6 on the edge of Walsall in an established industrial area.
The three properties totalled 136,171 sqft and were let to Tata Steel and Micheldever Tyre Services on leases expiring in 2021 and 2022. The combined rent was £403,115 with fixed uplifts increasing income to £449,218 by August 2017.
The properties were purchased for £3,850,000which represents a net initial yield of 9.9% and a reversionary yield of 11.03% by August 2017, assuming full costs of purchase of 5.8%.
Halls Commercial acted for the vendor.
