Property overview

Unit 2, Azalea Close, Clover Nook Industrial Estate, Alfreton, DE55 4QX

Make an enquiry
Jun 2014

Frank-Steier Price has recently completed the acquisition of a single let industrial investment for the Charities Property Fund.

The property is located on Clover Nook Industrial Estate in Alfreton, Derbyshire, a well-established industrial and distribution location. The unit compromises an 86,284 sq ft distribution centre which was comprehensively refurbished in 2012

The property is let to Recticel Ltd for a term of 19 years from 21 December 2012 at a rent of £206,925 per annum.

The purchase price of £2,795,000 reflected a net initial yield of 7.00% after purchaser’s costs of 5.8%.

The vendor M&G Real Estate was represented by JLL.