Property overview

Unit 702, Centre 500, Newcastle under Lyme, ST5 0UU

sold

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£212,256
Oct 2012

Acting on behalf of St Modwen Development, Franck-Steier Price has recently concluded the sale of a modern industrial unit investment at at Centre 500, Newcastle under Lyme.

The unit forms part of the successful St Modwen development industrial/trade park scheme which runs adjacent to the A500 through Stoke on Trent.

The property comprises a mid terrace industrial unit extending to 325.3 sq.m (3,501 sq.ft).

The property is let on a 12 year lease from September 2008 to Ford Mainwaring Ltd at a passing rent of £18,375 per annum.  The lease has an upward only review at Year 5. The tenant also has an option to break at Year 8, giving 6 months notice.

The purchaser was a private investor, who paid a price of £212,256 reflecting a net initial yield of 8.4%.