Hellerman Tyton, Kingswood Lakeside, Cannock, WS11 8JHMake an enquiry
Franck-Steier Price has recently completed the acquisition of a prime new build distribution warehouse on behalf of Custodian REIT.
The property is located on Kingswood Lakeside Business Park in Cannock, which is situated at Junction T7 of M6 Toll. The park is home to occupiers including DHL, APC, Veolia, Unilever, Tallent, First Choice and Aggreko.
The property completed construction in April 2016 and is let to Hellerman Tyton Ltd, guaranteed by Hellerman Tyton Group Plc for a term of 20 years. The lease is held on full repairing and insuring terms subject to 5 yearly reviews to compounded RPI, collared at 2% and capped at 4% per annum.
The commencing rent is £283,919 per annum,
The purchase price of £4,290,000 reflected a net initial yield of 6.25%.
The vendor Coltham Developments was represented by JLL.