Property overview

Unit 15c, Blackpole Trading Estate, Blackpole Road, Worcester, WR3 8YB

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Jun 2014

Franck-Steier Price has recently completed the acquisition of detached industrial unit on Blackpole Trading Estate in Worcester. Acting for AEW UK Core Property Fund the building was bought for £2,200,000.

The property extended to 81,530 sqft on a site of 5.66 acres. The building is let to FKI Engineering Ltd on a 35 year lease from December 1981, expiring in December 2016. The passing rent is £275,000 per annum (£3.37 per sqft).

The purchase reflected an initial yield of 11.81% and an underlying capital value of £27 per sqft. Knight Frank represented the vendor.