|Property Reference Number||200003627928|
Modern distribution facility with 15 years of index-linked income.
- A modern, strategically located distribution warehouse facility located on a new distribution park development.
- Located within an excellent logistics network, positioned with easy access to junctions 2 and 3 of the M42 motorway, which in turn provides access 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.
- Built in 2019, the unit extends to 45,810 sq ft (4,255.89 sq m) GIA.
- The Property is let in its entirety to The Heartbeat Manufacturing Co (Redditch) Limited for a term of 15 years on full repairing and insuring terms.
- The passing rent is £312,000 per annum, equating to £6.81 per sq ft.
- The lease will incorporate 5-yearly, upwards only rent reviews to the compounded RPI pa (subject to a collar and cap of 1% pa - 4% pa).
We are instructed to seek offers in excess of £5,300,000, subject to contract and exclusive of VAT. A purchase at this level reflects an attractive Net Initial Yield of 5.50% assuming standard purchasers’ costs and a capital value of £115.70 per sq ft.