Western Body Hardware, Crossgate Road, Park Farm Industrial Estate, Redditch, B98 7SN
Franck Steier Price has recently completed the sale of a single let industrial investment on behalf of OLIM.
The property is located on the established Park Farm Industrial Estate south east of the town centre.
The property comprises a detached industrial unit dating from the 1970’s which is arranged in three bays. The property is primarily used for engineering and manufacturing.
The accommodation extends overall to 39,725 sqft.
The property is let to Weston Body Hardware Ltd on a 15 year term from December 2010. The passing rent is £129,806 – £3.27 per sqft. The lease has annual RPI rent reviews with cap and collar of 2% and 5%.
The property was sold to a private property company for £1,710,000 which reflected a yield of 7.15%.