Unit 9, Rupert Street, Aston, Birmingham, B7 4PR
Franck Steier Price has recently completed the sale of a single let detached plant hire/trade unit on behalf of Abbeyland.
The industrial unit was located in an established industrial area on the edge of Birmingham city centre. The unit is occupied by GAP Plant Hire who have been in occupation since the unit was constructed in 1998.
The unit extended to 10,025 sqft with an additional 0.23 acre of secure, concreted compund. The property was let to GAP Group Ltd on a 25 year term from September 1998. The current passing rent was £64,000 per annum (£5.75 per sqft after allowing for the surplus yard.
The purchase price of £800,000 reflected a net initial yield of 7.56% after purchaser’s costs of 5.80%.
The property was purchased by a private property company who were represented by JLL.