Stafford 88, Acton Gate, Stafford, ST18 9AA
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Atlas Real Estate has recently acted for a county council pension fund on the sale of Stafford 88, Acton Gate.
The property sits in a prime location adjacent to junction 13 of the M6 motorway and totals 88,601 sq.ft. The property is let to Stone Technologies Limited on a lease expiring 25th May 2035 at a current passing rent of £475,000 per annum (£5.36 per sq.ft).
The property was sold for a price of £10,100,000 representing a net initial yield of 4.41% assuming usual costs of purchase.
Andrew Franck-Steier who acted jointly with Colliers for the vendor comments “We are delighted to achieve this price for this asset which has outperformed business plan since we acquired the property for the client in 2011”.
Bampton Satchwell Bull represented the purchaser, ARA.
