|Building Area Gross||
Strategically located, industrial warehouse facility totaling 9,353 sq m (100,674 sq ft).
- Prime industrial location, 3 miles north of Birmingham city centre with excellent transport communications and employment demographics
- Situated on the established Holford Industrial Park within 1.5 miles of Junction 6 of the M6 motorway
- Let on a new 25 year lease to Vertigrow Technology Limited from 1 October 2019
- A low initial rent of £450,000 per annum (£4.50 per sq ft) subject to 5 yearly open market rent reviews
- The property benefits from a 4 megawatt power supply
- Reversionary rental with an ERV of £503,370 per annum (£5.00 per sq ft)
- Long leasehold - 999 years from 20th February 1995 at a peppercorn rental
- We are instructed to seek offers in excess of £5,900,000, subject to contract and exclusive of VAT. A purchase at this level reflects an attractive Net Initial Yield of 7.14%, a reversionary yield of 8.00% and an overall equivalent yield of 7.77% assuming standard purchasers’ costs. A purchase at this price would reflect a low capital value of £58.60 per sq ft which we believe is less than the vacant possession value.