Norbert Dentressangle Unit, The Freight Terminal, Maybrook Road, Brownhills, WS8 7DGMake an enquiry
Franck-Steier Price has recently completed the acquisition of a modern distribution warehouse on Maybrook Road, Brownhills on behalf of Helical Bar plc.
The unit comprises a modern crossed docked distribution warehouse totalling 52,368 sq.ft with 20 dock level and 2 level access loading doors on a site of 3.75 acres.
The property is let to Norbert Dentressangle Transport UK Ltd for a term of 10 years from 15th August 2014. There is a tenant break option at the 6th year of the term and the passing rental is £230,000 pa.
The property was purchased off market for a price of £2,636,000 which represents a net initial yield of 8.25%, assuming full costs of purchase of 5.8%.
Franck-Steier Price acted on behalf of Helical Bar and Andrew Franck-Steier commenting on the deal said “This acquisition comprises a good modern unit in a strong Midlands location, let to a major third party logistics operator and it is a key hub for the business.”