Units 2-6 Willow Court, Sandwell Business Park, Crystal Drive, Smethwick, Birmingham, B66 1RG
Franck Steier Price has recently completed the sale of a single let industrial investment on behalf of Dunedin.
The property is located on the established Sandwell Business Park two miles from Junctions 1 & 2 of the M5.
The property comprises a terrace of five 1980s industrial units which are in single occupation. The units have an eaves height of 6m, the tenant uses each unit from different parts of their operations. Two of the units have rear service yards in addition to the front yards and car parks.
The accommodation extended overall to 17,510 sqft.
The property is let to Carwood Motor Units Ltd until 30 March 2022. The passing rent was £74,725 – £4.27 per sqft. There is an outstanding rent review, the ERV being £5.00 per sqft.
The property was sold to a private property company client of LSH for £1,100,000 which reflected a yield of 6.42%, a reversion to 7.5% on conclusion of the rent review and an underlying capital value of £62.82 per sqft.