Speciality Coatings, Dewhurst Street, Darwen, BB3 2EN
Franck-Steier Price has recently completed the sale of an industrial premises in Darwen on behalf of a private investor.
The property is located Dewhurst Street to the south of Darwen town centre in a mixed commercial and residential location. The property comprises two detached warehouse building and a single story office extending to 86,00 sq.ft and built in 1990.
The property is let Speciality Coatings (Darwen) Ltd, guaranteed by International Fibres Group (Holdings) Ltd, on a lease expiring in December 2020. The lease is subject to a schedule of condition. The rent is £301,940 per annum.
The purchase price of £1,500,000 reflected a net initial yield of 18.97%.
The purchaser was a private investor represented by Scott Frazer.