Unit 22, Bartleet Road, Washford Industrial Estate, Redditch, B98 0DG
Franck-Steier Price Ltd (FSP) has recently completed the sale of an industrial investment on behalf of CBRE Investors.
The property is located on Washford Industrial Estate, Redditch, and comprises a 1980s build semi-detached industrial unit of 1,077 sq.m (11,597 sq.ft).
The property is let to Action Industries Limited for a term of 10 years from 1 May 2008, expiring 30 April 2018. The lease is held on full repairing and insuring terms subject to a photographic schedule of condition. There is an upward only rent review on 30 April 2013. The current rent is £52,000 per annum.
The investment was sold for £445,000 which reflected a net initial yield of 11.15%. The property was purchased by a private investor represented by Evans Hardy Blake.