Phoenix Park, Station Road, Rowley Regis, B65 0LJ
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£525,000
Oct 2014
Franck-Steier Price Ltd (FSP) has recently completed the acquisition of a multi let industrial estate in Rowley Regis.
The estate comprises a terrace of three 1980’s industrial units totalling 16,092 sqft.
The estate has one vacant unit and one tenant holding over. The current combined passing rent is £43,400 per annum with a £6,000 increase due in December 2014.
Acting on behalf of Pure Consultants Ltd the investment was bought for £525,000.
The purchase reflected an initial yield of 7.81%, rising to 8.89% in December 2014 with the potential to increase the running yield to 13.03% on letting the final unit. The purchase reflected an underlying capital value of £32.62 per sqft. Knight Frank represented the vendor.
