Property overview

Diamond Portfolio – Midlands, Yorkshire & North East

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£21,425,000
Jul 2021

Portfolio of six modern trade, logistics and warehouse units geographically spread across the Midlands, Yorkshire & North East. All the units are freehold and date from the late 1990’s through to 2014.

Let to six tenants with a portfolio AWULT of 6.2 years to expiries and 4.0 years to breaks. Total floor area of 242,920 sq ft with units ranging from 21,512 sq ft to 67,518 sq ft. Total rental income £1,212,056, an average of only £4.99 per sq ft.

Significantly reversionary with portfolio ERV of £1,389,535, an average of £5.72 per sq ft and an increase of almost 15% from the passing rents.

Offers sought in excess of £21,425,000 (Twenty One Million Four Hundred and Twenty Five Thousand Pounds) offering an initial yield of 5.30% with a reversion to 6.08%. Underlying Capital Value of only £88 per sq ft.