Arden Business Park, Arden Road, Frankley, Birmingham
55,282 sq ft
Description
• Prominent industrial estate which occupies a highly accessible location, in a well populated Birmingham suburb less than 8.5 miles south west of Central Birmingham
• Birmingham, the UK’s second largest city, is located at the heart of the West Midlands region and strategically located 118 miles north west of London, 87 miles south of Manchester and 12 miles south east of Wolverhampton
• Excellent connectivity with access to the A38 in less than 1 mile which is one of the main arterial routes to central Birmingham. In addition, J4 of the M5 and J1 of the M42 can be easily accessed
• Comprising seven units extending to a total of 55,282 sq ft (5,136 sq m)
• EPC Ratings ranging from B47 to C62
• The estate is fully let to two tenants, Strip Tinning Limited and Blaze Signs Limited. Strip Tinning has demonstrated their long term commitment to the scheme through their 5-year lease extension and expansion across five units
• Current passing rent of £465,896 per annum reflecting £8.42 per sq ft on an overall basis and a c.35% discount from achieved headline rents at nearby Frankley Industrial Estate
• The lease for Units 3 & 4 benefits from an index linked rent review in June 2027 (Collar and Cap 2.0 – 4.0%)
• An attractive weighted average unexpired lease term of 5.30 years to expiry and 3.95 years to break
• Total site area of 1.62 hectares (4.00 acres), providing a very low site cover of 32%
• Freehold
• Option to explore buying the adjoining Council Owned Land of approximately 0.43 acres to provide future re-development options
We are instructed to seek offers in excess of £6,100,000 (Six Million One Hundred Thousand Pounds) reflecting a Net Initial Yield of 7.16% and a Capital Value of £110 per sq ft assuming standard purchasers’ costs of 6.64%.
This produces an Estimated Reversionary Yield of up to 7.58% by 2027 on completion of the Blaze Signs rent review.
• Birmingham, the UK’s second largest city, is located at the heart of the West Midlands region and strategically located 118 miles north west of London, 87 miles south of Manchester and 12 miles south east of Wolverhampton
• Excellent connectivity with access to the A38 in less than 1 mile which is one of the main arterial routes to central Birmingham. In addition, J4 of the M5 and J1 of the M42 can be easily accessed
• Comprising seven units extending to a total of 55,282 sq ft (5,136 sq m)
• EPC Ratings ranging from B47 to C62
• The estate is fully let to two tenants, Strip Tinning Limited and Blaze Signs Limited. Strip Tinning has demonstrated their long term commitment to the scheme through their 5-year lease extension and expansion across five units
• Current passing rent of £465,896 per annum reflecting £8.42 per sq ft on an overall basis and a c.35% discount from achieved headline rents at nearby Frankley Industrial Estate
• The lease for Units 3 & 4 benefits from an index linked rent review in June 2027 (Collar and Cap 2.0 – 4.0%)
• An attractive weighted average unexpired lease term of 5.30 years to expiry and 3.95 years to break
• Total site area of 1.62 hectares (4.00 acres), providing a very low site cover of 32%
• Freehold
• Option to explore buying the adjoining Council Owned Land of approximately 0.43 acres to provide future re-development options
We are instructed to seek offers in excess of £6,100,000 (Six Million One Hundred Thousand Pounds) reflecting a Net Initial Yield of 7.16% and a Capital Value of £110 per sq ft assuming standard purchasers’ costs of 6.64%.
This produces an Estimated Reversionary Yield of up to 7.58% by 2027 on completion of the Blaze Signs rent review.
BUILDING HIGHLIGHTS
Prominent industrial estate
Comprising seven units
Total of 55,282 sq ft
Fully let to two tenants
