Overview
- Industrial
Description
Location
Investment Summary:
Located on Stafford Park, one of Telford's primary industrial estates Excellent transport links via M54 Motorway, providing ample access across the West Midlands
Extending to approximately 29,887 sqft of warehouse
6.4m working height and 2 level access doors, with shared loading yard provision
Full Repair and Insuring Terms to Teamson UK Limited for a term of 10 years from 1st June 2023
Passing rent of £190,000 per annum (£6.35 per sqft). ERV thought to be in excess of £7 per sqft
Tenant only break clause provision on 1st June 2028
Rent review on 1st June 2028 to the greater of Open Market Rent or CPI 2%-4% annually compounded
Approximately 6.88 years to expiry and 1.88 years to break
Investment value underpinned by vacant possession value
Offers in excess of £2,350,000 (Two Million Three Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT, reflecting a net initial yield of 7.60% and a capital value of £78.63 per sqft when allowing for usual purchaser costs.
Location:
Telford is located in the heart of the UK and is one of the top five fastest growing towns in the country with a population expected to hit 200,000 by 2034 (ONS,2024).
Telford is 33 miles north-west of Birmingham, 30 miles south-west of Stoke-on-Trent, and 15 miles east of Shrewsbury. Road access is excellent with junctions 4 and 5 of the M54 close by, providing quick access to the M6 and the wider Midlands Motorway network.
Telford is home to over 300 international businesses and leads the Midlands in productivity growth. It has one of the highest shares of manufacturing jobs in the UK, double the national average, and can access a skilled workforce of over 350,000 with a 30-minute drive and 155,000 students at 14 universities within a 60-minute drive time.
Major occupiers in the area include Magna, Muller, Makita, Ricoh, Kraft Heinz, Denso, Lyreco, and Cap Gemini.
Summary
Key points
- Reversionary single let industrial investment
- Underpinned by vacant possession value
- 2 level loading doors
- 6.4m working height
- Shared loading area
- 35 car parking spaces
- EPC C (71)
- Mezzanine in warehouse
Contact
Harris Lamb
Tel: 0121 4559455
Matthew Tilt
matthew.tilt@harrislamb.com
EPC
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