Thornhill Road Industrial Estate, RedditchPosted on December 17, 2019
In December 2019 Clay Street completed the sale of this key West Midlands multi let industrial investment.
- Industrial Estate in North Moons Moat, the premier industrial area of Redditch.
- Outstanding connectivity to the national motorway network with the M5, M42 & M40, all within a 15 minute drive time.
- Thriving commercial area, home to a host of national occupiers including; Lear Corporation, John Lewis (iForce), Steatite, AMCO Logistics, SP Group and St Ives.
- 27 units arranged across 8 terraces, extending to 104,577 sq ft (9,715.44 sq m).
- Unit sizes ranging from 1,098 sq ft (102.01 sq m) to 17,575 sq ft (1,632.76 sq m).
- Total site area of 2.465 hectares (6.09 acres) providing a low built site coverage of 39.41%.
- Attractive average weighted unexpired lease term of 5.28 years to expiries and 4.78 years when accounting for break options.
- Total income of £459,530 per annum, reflecting a low average rent of £4.39 per sq ft
The asset was sold on behalf of Royal London Asset Management for £6,850,000 reflecting a net initial yield of 6.37%. The investment was acquired by M7/Blackstone with advice provided by Savills.