Units 1-6, Great Western Close, Birmingham B18 4QG
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Reversionary multi let industrial estate investment located under 3 miles from Birmingham city centre.
The property comprises a terrace of six high specification industrial units built in 2006. The accommodation extends overall to 934.6 sqm (10,060 sq ft).
The site is 0.24 hectares (0.59 acres).
The property is fully let to four tenants, each tenant has an “Easi Lease” agreement. The current combined rent is £80,511 per annum which reflects as average of only £8.00 per sq ft).
A conservative ERV for the estate is £85,560.
Tenants’ average occupancy on the estate is over 9 years.
We are instructed to seek offers in excess of £900,000 (Nine Hundred Thousand Pounds) subject to contract and exclusive of VAT.
A purchase at this price reflects a net initial yield, off the current net rent of 8.14%, assuming costs of purchase of 5.67%. The reversionary yield based on a conservative ERV is 8.67%. Capital value of just under £90 per sq ft.
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