Property overview

Franck-Steier Price Ltd (FSP) has recently completed the acquisition of an industrial investment at Speke, Liverpool.

The property is located on the edge of John Lennon Airport in an established industrial area.

The property extends to 150,000 sqft and is let on a 15 year term from 25 March 2012. The tenant has an option to break at Years 7 & 11. The current passing rent is £400,000 per annum (£2.66 per sqft).

The property was purchased for £2,500,000 which reflected a net initial yield of 15.12%, assuming purchaser’s costs of 5.8%.  The vendor was represented by Whitaker Horton.