Saville House, Middlemore Lane West, Aldridge, WS9 8BG
Franck Steier Price has recently completed the sale of a single let industrial investment on behalf of Paloma Capital.
The property is located in an established industrial area a mile from Aldridge town centre.
The property comprises two industrial units dating from the 1970’s with ancillary offices to the front. The property was refurbished in 2012 and sits on a 1.08 acre site. Overall the accommodation totals 20,912 sqft.
The unit is let to Mellish Engineering Services Ltd on a 15 year lease from 13 June 2012. The lease has 5 yearly reviews with a minimum increase to RPI. The current passing rent is £72,693 (£3.48 per sqft).
The property was sold to a private investor for £1,050,000 which reflected an initial yield of 6.54%. Andrew Dixon & Co acted for the purchaser.