Unit 1, Stretton Business Park, Burton upon Trent, DE13 0BY
Franck-Steier Price has recently completed the sale of a modern industrial investment in Burton upon Trent, on behalf of a private company client. The sale was a joint instruction with local Burton agent Rushton Hickman.
The property is located on Stretton Business Park, a popular multi let industrial scheme to the north of the town. The development was originally constructed by St Modwen. The subject property comprised a detached industrial building of 1,143 sq.m (12,304 sq.ft) and was constructed in 2002.
The property is let to Sigma Coachair Group (UK) Ltd and guaranteed by Knorr-Bremse Ltd. The tenant had taken a 10 year lease from January 2011. The tenant had a break option in Year 5. The passing rent was £71,842 per annum (£5.84 per sqft).
The investment was sold for £755,000 which reflected a net initial yield of 9%. The property was purchased by a private company SIPP client of Andrew Dixon & Co