JTF Cash and Carry, Frederick Road, Hoo Farm Industrial Estate, Kidderminster, DY11 7RA
Franck Steier Price has recently completed the sale of a cash and carry unit in Kidderminster on behalf of British Steel Pension Fund.
The property is prominently located at the front of Hoo Farm Industrial Estate in Kidderminster. The unit extends to 4,021 sq.m (43,291 sq.ft) and benefits from a cash and carry planning consent.
The property is let to the JTF Wholesale Ltd for a further 9.5 years without break on full repairing and insuring terms subject to five yearly upwards only reviews to open market value. The current rent is £140,000 per annum.
The purchase price of £1,730,000 reflected a net initial yield of 7.65% after purchaser’s costs of 5.80%.
The purchaser was a private investor represented by John Arkwright & Co.