HARRIS LAMB MARKETS KIDDERMINSTER INVESTMENT OPPORTUNITY FOR £1.55M
Harris Lamb has been instructed to market a Kidderminster industrial unit for £1.55million on behalf of an undisclosed client.
The 40,192sq ft unit on the popular Hoo Farm Industrial Estate is currently let to Milden Steels Ltd, who are four years into a ten-year lease with a passing rent of £150,000 a year.
Jacqui Bayliss, director, said: “This is a superb investment opportunity following on from a number of similar investment deals completed over the past 12 months across the West Midlands.“With a well-documented stock shortage across the region, opportunities like this, to take on an excellent site with a good, established tenant, are appealing to investors.
“The past year alone has seen Harris Lamb’s Investment team oversee sales on 3 Kings Court and Virginia House office blocks in Worcester, Lauriston Park in Evesham, an office building in Rugby, three industrial units in Garretts Green, Birmingham, and two further industrial estates in Birmingham and Tipton.
“Demand for such tenanted sites is at a peak right now, and with this opportunity representing a 9.12 per cent yield for the buyer, we’re confident that a buyer will be found quickly,” she added.
Milden Steels, a specialist supplier and processor of strip mill products for the UK and European manufacturing industry, moved into the premises in 2012 on a ten-year lease. The lease is subject to a rent review in 2017 and a break in 2018.
For more details, contact Jacqui Bayliss or Alex Eagleton at Harris Lamb on Jacqui.firstname.lastname@example.org or email@example.com or call 01905 22666 or 0121 455 9455.