Property overview

Hanson Quarry Products, Great Western Business Park, Worcester, WR4 9AB

under offer

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May 2014

Acting on behalf of St Modwen, Franck-Steier Price Ltd (FSP) has concluded the sale of a long term RPI investment secured to Hanson Quarry Products.

The 1.3 acre site is let to Hanson Quarry Products Europe on a 20 year lease from November 2013. There is a tenant/landlord mutual break at the expiry of the 10th year. The initial rent is £22,500 per annum and is reviewable annually to RPI.

The appeal of a blue chip covenant and annually RPI reviews produced a huge amount of interest in the investment with Franck-Steier Price Ltd (FSP) receiving over 20 formal bids for the investment

The purchaser was a private property company, who paid a price of £365,000, reflecting a net initial yield of 5.88%. Shortland Penn & Moore acted for the purchaser.