Eddie Stobart Ltd, Orbital 7, Orbital Park, Cannock, WS11 8XWMake an enquiry
Franck-Steier Price has recently completed the acquisition of a prime long let distribution unit on Orbital Park, Cannock, on behalf of LXI REIT plc.
The property extends to 97,536 sq.ft on a site of 9.50 acres.
The property is let to Eddie Stobart Ltd for a term of 20 years from June 2019 at a rent of £625,000 per annum. The lease is held on full repairing and insuring terms subject to 5 yearly upward only reviews to RPI collared at 1% and capped at 3% per annum compounded.
The property was acquired for £11,935,000 which reflects a net initial yield of 5.25%.