Western Business Park, Great Western Close, Birmingham, B18 4QF
Franck Steier Price has recently completed the sale of a multi-let industrial estate in Winson Green, Birmnigham on behalf of BPG (Urban) Ltd.
The estate was 3 miles from Birmingham city centre and comprises 21 units arranged in five terraces extending to 23,205 sq.ft. One of the terraces had been sold off. The estate is full let producing a total income of £108,880 per annum, with an average rent of £4.69 per sqft. Most of the tenants had 12 month flexible licences.
The purchase price of £1,120,000 reflected a net initial yield of 9.19% after purchaser’s costs of 5.80%.
The purchaser was a private investor client of Shortland Penn & Moore.