Factory P, Park Lane, West Bromwich, B21 8LE
Acting on behalf of a private client, Franck-Steier Price Ltd (FSP) has sold this single let industrial investment on the edge of West Bromwich, under 0.5 miles from J1 of the M5.
Franck-Steier Price Ltd (FSP) originally bought the property three years ago for the client and have sold it on to a private investor in an off market transaction.
The property comprises 1970’s industrial unit of 5,862 sqft.
The property is let to G4S Cash Solutions (UK) Ltd for a term of 5 years from June 2016. The current rent passing is £25,000 per annum (£4.26 per sqft).
The investment was sold for £325,000, reflecting a net initial yield of 7.43%. Alstonefield Real Estate acted for the purchaser.