Aston Fields Trading Estate, Aston Road, Bromsgrove, B60 3EX
Franck-Steier Price has recently completed the sale of Aston Fields Trading Estate in Bromsgrove on behalf of Evenacre.
The estate totals 59,575 sq.ft in 20 units ranging in size from 2,321sq.ft to 12,301 sq.ft The property is held longleasehold and let to 14 tenants on with a WAULT of 2.56 years to expiry and 2.19 years to break. Tenants include Yushin Automotive, Rexel Senate and Wyre Forest Community Housing.
The property was purchased by Threadneedle, represented by Knight Frank, for £4,150,000 which represents a net initial yield of 7.65%, assuming full costs of purchase of 5.8%.
Franck-Steier Price acted on behalf of Evenacre and Andrew Franck-Steier commenting on the deal said “This sale comprises a good modern industrial estate in a strong Midlands location and let to a range of occupiers with a mix of unit sizes.”