Units 4-8 Oakhill Trading Estate, Euston Street, Leicester, LE2 7ST
Acting on behalf of Hansteen, Franck-Steier Price Ltd (FSP) has concluded the sale of this edge of city trade/industrial investment.
The estate totalled 57,305 sqft sqft in five units. The estate was fully let to five tenants including Edmundson Electrical and FPS. The gross passing rent was £215,652 per annum.
The estate was held on a 99 year long leasehold interest from December 1974. The current ground rent was £43,800 per annum and reviewable in December 2014.
The net rent receivable was £171,852 per annum.
The estate was bought by a private property company, who paid £1,430,000, reflecting a net initial yield of 11.36%. Lewis Ellis represented the purchaser.