Multi-let Industrial Estate, Thornhill Road, Solihull, B91 2HB
Franck Steier Price has recently completed the sale of a multi let industrial estate on behalf of Wesleyan Assurance.
The estate was located ½ mile to the north of Solihull town centre, just off Lode Lane and close to the Jaguar LandRover plant.
The property comprised a terrace of four early 1980’s industrial units totalling 18.126 sqft on a 0.71 acre site.
The property was fully let to three tenants on four leases. The WAULT to expiries was 5.6 years and to breaks 2.73 years. The overall passing rent was £87,000 per annum, an average of £4.80 per sqft.
The investment sold for £1,100,000 which reflected a net initial yield of 7.47%.
The property was purchased by a private property company who were represented by JLL.