Unit 4, Crossgate Road, Park Farm Industrial Estate, Redditch, B98 7TDMake an enquiry
Franck-Steier Price have recently completed the acquisition of a single let industrial investment on behalf of a private client.
The property is located on Park Farm Industrial Estate to the southern end of Redditch, adjoining Washford Trade Park.
The property comprises a detached industrial unit with ancillary single storey offices on a site of 2.63 acres. The unit extends to 55,478 sqft.
The property is let to Linread Ltd on a 15 year lease from 6 November 2012 with 5 yearly open market reviews. The passing rent is £244,300 – £4.40 per sqft. The lease is contracted out of the ’54 Act.
The property was acquired for £3,200,000 which reflected an initial yield of 7.17%.
The property was sold by CBRE who were acting for Kennedy Wilson.