Property overview

Franck-Steier Price Ltd (FSP) have recently completed the acquisition of a Birmingham city centre multi let industrial investment on behalf of Hansteen.

The acquisition is the first in the UK for Hansteen for their UK Industrial Property Unit Trust.

The estate is prominently situated on Sandpits (A457), one of the main arterial routes out of the city centre. The estate is within a mile of the central city core and has main road prominence. The 9 unit estate totals 20,130 sqft with an average rent of only £4.09 per sqft.

The property was purchased for £1,380,000 which represents a net initial yield of 7.47%, assuming full costs of purchase of 5.75%. The property was sold by Ashfield Land, Knight Frank advised.