Factory P, Park Lane, West Bromwich, B21 8LE
Acting on behalf of a private client, Franck-Steier Price has sold this single let industrial investment on the edge of West Bromwich, under 0.5 miles from J1 of the M5.
FSP originally bought the property three years ago for the client and have sold it on to a private investor in an off market transaction.
The property comprises 1970’s industrial unit of 5,862 sqft.
The property is let to G4S Cash Solutions (UK) Ltd for a term of 5 years from June 2016. The current rent passing is £25,000 per annum (£4.26 per sqft).
The investment was sold for £325,000, reflecting a net initial yield of 7.43%. Alstonefield Real Estate acted for the purchaser.