MCD House, Frederick Road, Hoo Farm Industrial Estate, Kidderminster
Franck-Steier Price LLP has recently completed the freehold sale of a distribution warehouse investment to the occupier, on behalf of an institutional client.
The property is situated on the Hoo Farm Industrial Estate in Kidderminster and comprises a 7,371.8 sq.m (79,350 sq.ft) warehouse on a site of 0.46 hectares (1.15 acres).
The property is occupied by MCD Group for a term of 25 years from December 1988 paying a rent of £364,786 per annum.
The property was sold for £3,000,000 which represents a net initial yield of 11.50% assuming full costs of purchase of 5.75%.