Units 8 & 9, Centre Link Industrial Estate, Nechells, Birmingham
Franck-Steier Price have recently concluded the freehold sale of two detached industrial units for Zurich Assurance Limited, located in Nechells on the edge of Birmingham city centre.
The units totalled 3,747 sq.m (40,330 sq.ft) with a total income of £198,120 per annum. Unit 8 is let to Peakhouse Foods Ltd for a term of 15 years from May 1998 at a rent of £49,620 per annum and Unit 9 is Let to Pilkington UK Ltd for a term expiring in September 2015 at a rent of £148,500 per annum.
The investment sold for £2,300,000 reflecting a net intial yield of 8.15% assuming costs of 5.7625%