Property overview

Ibstock Brick Ltd, Hilton Cross Business Park, Wolverhampton, WV10 7QZ

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£16,500,000
Jun 2024

Please find below details of a well secured prime warehouse which we have been instructed to market.

  • Comprehensively refurbished warehouse in a prime location
  • Total of 145,998 sq.ft on a site of 10.85 acres
  • Low site density of 29%
  • Let to the substantial covenant of  Ibstock Brick Limited
  • Rent passing of £1,166,061 per annum
  • 10 year lease from 25th April 2023 (tenant break option 25th April 2028)
  • Rent review 25th April 2028 to higher of Market Rent and CPIH (1% collar & 4% cap).

We are instructed to seek offers in excess of £16,500,000 subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 6.50%, subject to purchaser’s costs of 6.74%.