Aquapak Polymers, Hollymoor Point, Rubery, Birmingham, B31 5HEMake an enquiry
FSP has recently completed the off-market acquisition of a modern industrial investment on behalf of Urban Logistics REIT.
The property is strategically located on Birmingham Great Park, as part of the Hollymoor Point development, adjacent St Modwen’s Longbridge redevelopment and is accessed off the A38 3 miles distant from J4 of M5 and 4 miles distant from J2 of M42, Birmingham city centre is 8 miles away along the A38 dual carriageway.
The property extends to 51,600 sq ft and was built in September 2017. The unit provides an excellent specification for an urban logistics warehouse with 10m eaves, 3 dock level loading doors, 2 level access doors and a yard depth of 35m.
The property is let on FRI terms for 15 years without break expiring in 26th January 2032 to Aquapak Polymers Ltd with a guarantee from Systems ADI Group. The passing rent is £351,600 per annum and is reviewed 5 yearly to RPI subject to a collar and cap of 3% and 5% compounded providing excellent reversion over the life of the term. Aquapak manufacture biodegradable plastic polymers for packaging and now count brands such as Nestle, Johnson & Johnson and Proctor & Gamble amongst their customers.
The property was purchased for £5,500,000 which reflects a net initial yield of 6.00%. The vendor was Hortons Estates who developed the unit.