99 Amington Road, Tyseley, Birmingham, B25 8EP
Franck Steier Price has recently completed the sale of a single let industrial investment on behalf of Paloma Capital.
The property is located in the Tyseley area of the city area 4 miles from Birmingham city centre. The property lies between the A45 and A41.
The detached unit which was refurbished in 2012 has an eaves height of 5m and sits on a site of 0.98 acres. The property comprises a single bay warehouse and totals 25,016 sqft.
The property is held long leasehold on a 125 year term from May 1993. There is a £200 ground rent which is reviewable every 25 years where the rent will double.
The unit is let to Mata Automotive UK Ltd on a 10 year lease from 9 March 2017. The tenant has an option to break at Year 5. The passing rent is £100,000 (£4 per sqft).
The property was sold to a private investor for £1,301,000 which reflected an initial yield of 7.25%. Wood Advisory acted for the purchaser.