Just Car Clinics, Unit 48F, Pipers Road, Park Farm Industrial Estate, Redditch, B98 0HUMake an enquiry
Franck-Steier Price and Salway Bradbury have recently completed the purchase of the freehold interest in an industrial investment on Pipers Road, Park Farm Industrial Estate, Redditch, on behalf of the Graham House Retirement Benefit Scheme.
The property comprises two adjoining industrial units with a single storey office to the front elevation. The property also has a large secure yard.
The property is let on a 15 year lease from July 2010 to Just Car Clinics Ltd, guaranteed by Just Car Clinics Group Plc. The current rent is £36,000 per annum. The lease is held on full repairing and insuring terms subject to a photographic schedule of condition. There are 5 yearly upward only reviews.
The purchase price of £372,500 reflects a net initial yield of 9.22%. The vendor was represented by King Sturge