Property overview

Unit 15c, Blackpole Trading Estate, Blackpole Road, Worcester, WR3 8YB

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Jun 2014

Atlas Real Estate has recently completed the acquisition of detached industrial unit on Blackpole Trading Estate in Worcester. Acting for AEW UK Core Property Fund the building was bought for £2,200,000.

The property extended to 81,530 sqft on a site of 5.66 acres. The building is let to FKI Engineering Ltd on a 35 year lease from December 1981, expiring in December 2016. The passing rent is £275,000 per annum (£3.37 per sqft).

The purchase reflected an initial yield of 11.81% and an underlying capital value of £27 per sqft. Knight Frank represented the vendor.