Property overview

Sitel UK, Timothy’s Bridge Road, Stratford upon Avon, CV37 9NQ


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Jan 2014

Franck Steier Price has recently completed the sale of a modern warehouse unit on behalf of CBRE Global Investors.

The property is located on Timothy’s Bridge Road in Stratford upon Avon and comprises a detached modern warehouse with integral two storey offices of 25,719 sq.ft.

The property is held long leasehold from Stratford upon Avon District Council for a term of 99 years from March 1969.  The ground rent is £2,000 per annum.

The property is let to Sitel UK Ltd for a term of 10 years from September 2012 at a rent of £125,000 per annum.  The lease is held on full repairing and insuring terms subject to a rent review on expiry of the 5th year.  The tenant has a break option on expiry of the 5th year. 

The purchase price of £975,000 reflected a net initial yield of 11.93% after purchaser’s costs of 5.80%.

The purchaser, Kindale Ltd, was represented by Sampson Moore.