Unit 3, Kettleswood Drive, Woodgate Valley, Birmingham, B32 3DB
Acting on behalf of a property company client, Franck-Steier Price has recently concluded the sale of a modern industrial unit investment at Woodgate Valley, Birmingham.
The property comprises an end terrace industrial unit extending to 712 sq.m (7,667 sq.ft) including first floor offices.
The property is let on a 10 year lease from September 2011 to Nachi Europe Gmbh at a passing rent of £44,085 per annum. The lease has an upward only review at Year 5. The tenant also has an option to break at Year 5, giving 6 months notice and having a 6 month rental penalty if exercised.
The purchaser was a private investor, who paid a price of £515,500 reflecting a net initial yield of 8.08%.