Unit 22, Bartleet Road, Washford Industrial Estate, Redditch, B98 0DG
Atlas Real Estate has recently completed the sale of an industrial investment on behalf of CBRE Investors.
The property is located on Washford Industrial Estate, Redditch, and comprises a 1980s build semi-detached industrial unit of 1,077 sq.m (11,597 sq.ft).
The property is let to Action Industries Limited for a term of 10 years from 1 May 2008, expiring 30 April 2018. The lease is held on full repairing and insuring terms subject to a photographic schedule of condition. There is an upward only rent review on 30 April 2013. The current rent is £52,000 per annum.
The investment was sold for £445,000 which reflected a net initial yield of 11.15%. The property was purchased by a private investor represented by Evans Hardy Blake.