Maier UK, Burntwood Business Park, CannockPosted on October 6, 2021
In October 2021 Clay Street completed the acquisition of this West Midlands sale and leaseback industrial investment.
- Located in Cannock, Burntwood Business Park is a prime West Midlands manufacturing and distribution location with connections to the M6 and Birmingham City Centre.
- The asset is a detached manufacturing facility totalling c.109,012 sq ft GIA with ancillary offices.
- The site extends to c.5.86 acres providing a site coverage of 43%
- The property will be let to Maier UK ltd on a 15-year lease with a break option in year 10.
- The passing rent will be £626,819 pa, reflecting £5.75 per sq ft.
- The lease will be subject to RPI linked rent reviews in years 5 and 10 with a collar and cap of 2% and 4% per annum compounded.
The asset was acquired on behalf of Citivale backed by Investcrop. Savills acted on behalf of the vendor Maier UK ltd.