£3.940.000
Confirmation
Reversionary multi let industrial investment
Bromsgrove, United Kingdom
Industrial
#34283
Core+
30 Oct 2024
Property Details
Broker
For sale
38,561 sq.ft.
3,582 m²Leasable area
102.18 £/sq.ft.
1,099 £/m²6.50 %
4
Freehold
Fees
Investment Overview
Highly prominent multi-let trade counter investment opportunity in the well established industrial and trade location of Aston Fields Industrial Estate, Bromsgrove. Bromsgrove is a successful commercial centre in Worcestershire, located approximately 15 miles (24.14 km) south west of Birmingham City Centre Excellent transport links with the A38 Bromsgrove Bypass connecting to J1 of the M42 and J5 of the M5, providing access to the wider national motorway network Highly visible trade location fronting Sherwood Road, the main arterial route through Aston Fields Industrial Estate, the main industrial & commercial area within Bromsgrove. Comprises of 4 trade counter units extending to a total of 38,561 sq ft (3,582 sq m). Fully let to high profile trade occupiers including Howdens, Toolstation, Screwfix and Wigwam Self Storage. Highly reversionary passing rent of £272,300 p.a. with a low average rent of £7.31 psf. Rents in the surrounding area have reached in excess of £10.00 psf, with a number of comparable transactions in the £8.50 - £10.50 psf rental range. Numerous asset management angles to improve rents, term and value. Unit 4 (14,067 sq ft) has a rent review during 2026 with a passing rent of £6.75 psf. Average weighted unexpired term of 10.13 years to expiry and 7.12 years to break.
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