Units 2 & 3 Holly Park Industrial Estate, Spitfire Road, Erdington, Birmingham, B24 9PB
Franck Steier Price has recently completed the sale of two industrial units on behalf of CBRE Global Investors.
The units were located on the established Holly Park Industrial Estate close to Birmingham city centre, the M6 and A38. The two mid terraced units date from the 1990’s and extend to a total of 9,306 sqft.
The units were let to two tenants, CMA Mouldform and Balfour Beatty. Leases had breaks or expiries in 2016 and 2017. The current combined passing rent was £45,610 per annum.
The investment sold for £577,000 which reflected a net initial yield of 7.47% after purchaser’s costs of 5.80%.
The property was purchased by Wulstan Capital who were represented by Shortland Penn & Moore.