Unit 1, First Avenue, Maybrook Industrial Estate, Minworth, Birmingham, B76 1BAMake an enquiry
Franck-Steier Price Ltd (FSP) has recently completed the acquisition of a detached industrial unit investment on behalf of Brookshire Capital.
The unit lies at the front of Maybrook Industrial Estate in Minworth, just off the A38.
The 1980’s industrial building comprised 44,742 sqft of warehouse and integral offices plus an additional 8,893 sqft of mezzanine areas.
The property is let on a lease to Net Lynk Direct until February 2027. The passing rent is £223,500 rising to £234,730 in February 2013.
The property was purchased for £2,650,000 which represents a net initial yield of 7.97%, assuming full costs of purchase of 5.8%, rising to 8.37% in February 2017.
Darby Keye acted for the vendor.