Property overview

Unit 22, Bartleet Road, Washford Industrial Estate, Redditch, B98 0DG

sold

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£445,000
Nov 2011

Franck-Steier Price has recently completed the sale of an industrial investment on behalf of CBRE Investors.

The property is located on Washford Industrial Estate, Redditch, and comprises a 1980s build semi-detached industrial unit of 1,077 sq.m (11,597 sq.ft).

The property is let to Action Industries Limited for a term of 10 years from 1 May 2008, expiring 30 April 2018. The lease is held on full repairing and insuring terms subject to a photographic schedule of condition. There is an upward only rent review on 30 April 2013. The current rent is £52,000 per annum.

The investment was sold for £445,000 which reflected a net initial yield of 11.15%. The property was purchased by a private investor represented by Evans Hardy Blake.