Unit 3 Hockley Court, 2401 Stratford Road, Hockley Heath, Solihull, B94 6NWMake an enquiry
Acting on behalf of a local private family trust Franck-Steier Price has acquired a courtyard office investment in Hockley Heath, close to Solihull and the M42 and M40 motorways.
The property comprised a two storey, self contained mid terrace open plan office. The unit had been refurbished as part of a lease renewal to the tenant International Cookware Ltd. The tenant had renewed for a 5 year term from September 2019. He initial rent is £18,000 per annum rising to £20,000 by year 5.
The unit extends in total to 1,310 sqft with 5 allocated car spaces on site.
The building was acquired for £255,000 reflecting an initial yield of 6.87% rising to 7.64% by Year 5.
Bromwich Hardy acted for the vendor.