Units 8 & 9, Stafford Park 12, Telford, TF3 3BJ
Franck Steier Price has recently completed the sale of a single let industrial investment on behalf of Paloma Capital.
The property is located just off J4 of M54 on the established Stafford Park estate. Nearby trade counter operators include Edmundson Electrical, Dulux & Carwood.
The unit is a two bay distribution unit with ancillary offices on a site of 2.72 acres. The unit extends to 73,140 sqft including 8,326 sqft landlord concrete mezzanine.
The unit was let to Denwells Ltd who recently renewed on a 10 year lease from 27 August 2018. The current rent is £255,474 per annum (£3.49 per sqft) with a minimum rental increase at review to £275,848 per annum.
The property was sold to a private investor for £3,299,000 which reflected an initial yield of 7.27%. Andrew Dixon & Co acted for the purchaser.