Property overview

Franck-Steier Price Ltd (FSP) has acquired a modern industrial unit for a private client of the company.

The industrial unit is part of a 10 unit courtyard scheme on Blenheim Park in Nottingham. The scheme was developed by Wilson Bowden. The unit was let on a 10 year term from April 2010 to Hotchkiss Ltd. The current passing rent was £32,800 per annum.

The property is held long leasehold on a 150 year term with a ground rent pay away of 1.5% of rental value.

The property was purchased for a price of £310,000 which reflected a net initial yield of 9.94% off the net rent receivable. The vendor was represented by FHP.