Asking Price
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price
NOI Net Operating Income N/A
Cap Rate N/A

Documents

I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Building Area

Property Description

Single-Let Industrial Investment Opportunity with Redevelopment Potential. The property comprises four warehouse buildings extending to a total gross internal area of 54,565.52 sq ft (5,069.26 sq m)

Investment Highlights

  • Strategically located factory warehouse premises in an established industrial location.
  • Easy access to junctions 2 and 3 of the M42 motorway, connecting to the M40 interchange to the east and the M5 interchange to the west.
  • Strong labour supply dynamics, with 42.4% of residents in Redditch working in manufacturing, transport & storage, and wholesale trade.
  • Property comprises a total floor area of 54,565.52 sq ft (5,069.26 sq m) GIA across four industrial buildings.
  • Site area extends to 2.13 acres (0.86 hectares) providing a development density of 53.71%.
  • Significant future redevelopment potential.
  • Freehold.
  • Let in its entirety to The Heartbeat Manufacturing Co (Redditch) Limited for a term of 10 years with a break at year 5 (subject to 6 months prior notice) on full repairing and insuring terms, subject to a schedule of condition.
  • Rent on the revised lease will be £250,000 per annum, reflecting £4.50 per sq ft on units 67, 69 and 91 and £5.50 per sq ft on unit 76.
  • The lease will incorporate an upwards only, open market rent review on the 5th anniversary of the term.

We are instructed to seek offers in excess of £2,926,000 subject to contract and exclusive of VAT.


A purchase at this level reflects an attractive Net Initial Yield of 8.00% assuming standard purchasers’ costs and a capital value of £53.62 per sq ft.

Last Updated Date: 28 Apr 2021
Allan Wilson
Allan Wilson
Director - Capital Markets
Ben Kelly
Ben Kelly
Director - Capital Markets

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Last Updated Date: 28 Apr 2021

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