Unit 4, Holly Park Industrial Estate, Spitfire Road, Erdington, Birmingham, B24 9PB
Franck Steier Price has recently completed the sale of a mid terraced industrial unit on behalf of CBRE Global Investors.
The units were located on the established Holly Park Industrial Estate close to Birmingham city centre, the M6 and A38. The unit dated from the 1990’s and extend to a total of 4,047 sqft.
The unit is let to Central Audi & VW Specialists (Bham) Ltd on a 5 year lease from October 2012. The current passing rent is £21,350 per annum.
The investment sold for £250,000 which reflected a net initial yield of 8.3% after purchaser’s costs of 2.80%.
The property was purchased by a private investor.