Unit 11, Waterfall Lane Trading Estate, Cradley Heath, B64 6PU
Franck Steier Price has recently completed the sale of an industrial investment on Waterfall Trading Estate, Cradley Heath on behalf of Ash Holdings.
The subject property is a 6 bay industrial unit with steel truss roof and single storey offices along the front elevation. There are four loading doors to the front elevation and a further to at the rear. The property extends to 39,461 sqft on a 1.48 acre site.
The unit is let to ATB Group UK Ltd on a 10 year term from June 2018. The tenant has a break option in June 2023, subject to 6 months notice. There is a 2018 Schedule of Condition attached to lease. The current rent is £130,000 (£3.29 per sqft).
The property was sold to a private investor for £1,277,500 which reflected an initial yield of 9.6%.