DURA, Units 1 & 2, Orton Way, Tameside Drive, Castle Bromwich, Birmingham, B35 7BD
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Atlas Real Estate has disposed of the long-leasehold interest in an industrial investment property in Birmingham on behalf of a UK institution.
The property is located adjacent to Junction 5 of the M6 motorway, and 5 miles from Birmingham city centre. The property comprises two semi-detached warehouse units extending to 56,746 sq. ft.
The property is let to DURA Automotive on two separate leases with a WAULT to Expiry of 3.60 years, at a combined passing rent of £380,441 p.a. (£6.70 per sq. ft.).
Max Hulse commented “We are pleased to continue our long-term relationship with our client and to complete this transaction during a turbulent market.”
The property was sold for £5,325,000 reflecting a net initial yield of 6.70%.
Savills represented the purchaser, Moorfield.
