Digraph Transport Supplies Ltd, Carbide Court, Hemdale Business Park, Nuneaton, CV11 6TQ
FSP has been instructed to market a prime trade unit development funding opportunity. The site is located on an established trade and industrial estate in Nuneaton and will comprise on completion a trade counter unit extending to 8,603 sq.ft. The property will be let to Digraph Transport Supplies Ltd for a term of 15 years, subject to a tenant only break option on expiry of the 10th year. The initial rent will be £52,000 per annum. Offers sough in excess of £680,000 which reflects a net initial yield of 7.50%.
Franck-Steier Price has recently completed the forward funding of a new trade counter investment at Hemdale Business Park, Nuneaton.
The property comprises a unit totalling 8,600 sq.ft on the front of a well established trade counter and industrial park.
The property is pre-let to Digraph Transport Supplies Limited for a term of 15 years from practical completion subject to a tenant only break option at the 10th year. The initial rent is £52,000 per annum
The funding price was £685,000 which reflects a net initial yield of 7.17%
Franck-Steier Price acted on behalf of the developer, Tungsten Developments and Cooper Chen represented the purchaser who was a private SIPP investor.