Units 3a, 3b, 3c, 4a and 4b/c Isabella Court, Concord Way, Millenium Business Park, Mansfield, NG19 7JZMake an enquiry
Atlas Real Estate has recently purchased two modern industrial terraces on behalf of Royal Ordinance Pension Fund (managed by CBRE Investors).
The property comprises two terraces totalling 5 modern industrial units built in 2006. The units are located on a modern industrial estate to the north west of Mansfield town centre. The units total 32,165 sq.ft.
Four of the units are currently let producing a total income of £136,415 per annum. On completion terms were agreed for the letting of the final unit for a 5 year lease at £14,715 per annum which when completed will take the total income to £151,130 per annum
The purchase price of £1,400,000 represents a net initial yield of 9.21% assuming usual costs of purchase of 5.7625%. The capital value is £43.50 per sq.ft and when the letting of the vacant unit completes the yield will revert to 10.21%.
FHP represented the vendors Joint Receivers Richard A Saville, Peter A Blair and W John Kelly.