Mainstream Way Industrial Estate, Saltley, Birmingham, B7 4SN
Acting on behalf of a property company client, Franck-Steier Price has recently concluded the sale of a modern industrial/trade estate on the edge of Birmingham city centre.
Mainstream Way is located in the Birmingham’s industrial heartland with excellent access both into the city centre and motorway network.
The 1999 built property comprises two traditional terraces of industrial/trade units with two further units fronting Duddeston Mill Road and Devon Street. In total the six units extend to 4,532 sq.m (48,783sq.ft).
The estate is fully let to six tenants including Jewsons, Ensinger, Negurosu Denko, ST Piercy and Scot Group. The combined income was £275,180 per annum. Rents ranged from £5.23 per sqft to £6.17 per sqft.
The purchaser was a pension fund, who paid a price of £3,160,000 reflecting a net initial yield of 8.23%. Andrew Price, of FSP, commented “this is some of the best industrial accommodation around Birmingham city centre and coupled with its location provides the purchaser with a long term quality asset and the price paid reflects this”.