Keyway Retail Park, Armstrong Way, Willenhall, WV13 2QU
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£5,625,000
Nov 2019
Acting on behalf of M7 Real Estate acquisition of a multi let retail warehouse park in Willenhall.
The mid 1990’s retail warehouse park is located on the A454 Black Country Route, a mile from J10 of M6. The four unit scheme has an additional drive thru restaurant and 220 customer parking spaces. Nearby retailers include Tesco & Home Bargains.
The park was let to B&M, Jollyes, Poundland & Burger King and extended in total to 42,976 sqft. The park had a WAULT of over 10 years and an average rent on the retail units of £9.50 per sqft. The drive thru was let off £26.84 per sqft.
The property was acquired for £5,625,000 reflecting a 7.55% initial yield.
CBRE acted for the vendor.
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