Freehold industrial warehouse property with gross internal area of 17,454 sq ft purchased for £1,105,000, reflecting a net initial yield of 10.7% and a capital value of £63 per sq ft.
The investment provides secure income – let to TRL Technology Limited on assignment from Tate & Lyle Industries Limited with Privity of Contract. The current rent passing is £118,000 per annum (£73 per sq m / £6.76 per sq ft overall). The property is situated in Tewkesbury Business Park, which is an established office, industrial and distribution location with immediate access to the M5 Motorway via Junction 9.
Purchased at auction and through Mark Atkins Associates.