Newton Portfolio – Castle Donington, Cheadle & WoverhamptonMake an enquiry
Franck-Steier Price has recently acquired a portfolio of two HQ offices and a distribution warehouse on behalf of Custodian REIT.
The offices are located on Pegasus Business Park, Castle Donington and Cheadle Royal Business Park, Cheadle and are let to National Grid and Wienerberger. The distribution unit is located on Cannock Road, Woverhampton and is let to Assa Abloy.
The portfolio had a WAULT of 3.3 years to break and 5.5 years to expiry with a total income of £986,385 per annum.
The purchase price of £11,500,000 reflected a net initial yield of 8.04%.
The vendor was Helical Bar, represented by Tudor Toone.