Distribution warehouse let to a strong covenant

Rare opportunity to acquire a highly reversionary, well located distribution warehouse let to a strong covenant. Strategically located within one of the Midland’s premier logistics parks in the heart of the UK’s Golden Triangle. Immediately located on Junction 10 of the M42, with access to 91% of the UK in a 4 hour drive time. Very close proximity to the Birmingham Intermodal Freight Terminal (BIFT), with direct access to the UK’s key deep water ports. High-specification distribution unit built in 2014 totalling 170,276 sq ft GIA on a 7.7 acre site. Entirely let to DAU Draexlmaier Automotive UK Limited, with a guarantee from Fritz Draexlmaier GMBH & Co. KG for a further 4.8 years to lease expiry and 3.6 to lease break. Very low passing rent of £1,310,718.87 per annum, reflecting a low rent of £7.70 per sq ft. Opportunity to capture significant reversion at the tenant break option / expiry with prime rents in Birmingham now in excess of £11.00 psf.