Unit 2, Waterfront Business Park, Brierley Hill, DY5 1LX
sold
Highly reversionary industrial investment – Unit 2, Waterfront Business Park, Brierley Hill.
Modern industrial unit on established mixed commercial park. Purpose built unit from late 1990’s & used as local sorting office by Royal Mail.
The unit extends to 1,106 sqm (11,906 sqft).
Let to Royal Mail Group Ltd on a 5 year lease from 23 December 2023. Tenant has been in occupation for over 25 years.
Rent – £75,214 per annum (£6.32 per sqft). ERV – £95,250 (£8.00 per sqft), a 26% increase.
We are instructed to seek offers in excess of £1,135,000 (One Million One Hundred and Thirty Five Thousand Pounds).
This shows an initial yield of 6.25% and a reversionary yield of 7.93%, allowing for purchaser’s costs of 5.91%.
This reflects only £95 per sqft, a figure fully underpinned by the unit’s vacant possession value.
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