Property overview

Howdens, King Alfred Way, Battledown Trading Estate, Cheltenham, GL52 6PQ

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Jun 2010

Franck-Steier Price Ltd (FSP) has recently completed the purchase of the freehold interest in an industrial unit on Battledown Trading Estate, Cheltenham, on behalf of a private investor.

The property comprises a recently refurbished two bay warehouse constructed in the early 1980s totalling 1,748.99 sq.m (18,826 sq.ft).

The property is let on a 15 year lease from 16 February 2010 to Howden Joinery (Properties) Ltd, guaranteed by Howden Joinery Ltd. The lease is held on full repairing and insuring terms subject to 5 yearly upward only reviews. The current rent is £80,000 per annum.

The purchase price of £1,090,000 reflected a net initial yield of 6.94%.