Landsdon Unit, Tything Road, Arden Forest Industrial Estate, Alcester, B49 6EN
Franck-Steier Price have recently concluded the sale of a modern warehouse investment on Tything Road on behalf of PRUPIM.
The unit comprises a modern warehouse in the established Arden Forest Industrial Estate and totals 36,793 sq.ft on a site of 1.94 acres. The property is let to Landsdon Ltd (a dormant company) for a term of 20 years from December 1998. The passing rent is £187,800 per annum exclusive.
The purchaser was Pilnick Investments Limited £1,530,000 reflecting a net initial yield of 11.60% assuming costs of 5.7625%.
Franck-Steier Price represented the vendors and Amro Commercial represented the purchasers.