Minworth, Birmingham, B76 9EF, West Midlands, , West Midlands
Freehold Multi-Let Investment Opportunity
- Chantry Industrial Estate comprises a four-unit industrial scheme located in Curdworth, Minworth, 12 km (7 miles) north east of Birmingham City Centre
- The property benefits from a highly prominent position with frontage to Kingsbury Road (A4097), which links the A38 and M42/M6 Toll. Junction 9 of the M42 motorway is approximately 1.6km (1 mile) east
- The property provides well specified industrial accommodation arranged as a four-unit terrace. The terrace extends to 3,127.37 sq m (33,663 sq ft) of total accommodation
- The property is fully let to Bunzl UK Ltd and Johnson Controls Building Efficiency UK Ltd on full repairing and insuring terms
- Total passing rent of £142,150 per annum. The average weighted unexpired lease term to expiry is 3.95 years and 2.25 years to breaks
- Low average rent of £4.22 per sq ft, providing asset management potential
- Excellent covenant strength - Johnson Control Building Efficiency UK Ltd have a D&B rating of 5A1, and Bunzl UK Ltd have a D&B rating of 4A1
Birmingham is the United Kingdom’s second city, strategically located at the heart of the country and at the centre of the West Midlands conurbation. 185 km (115 miles) north west of London, 142 km (88 miles) north of Bristol and 136 km (85 miles) south east of Manchester, the city is the administrative and commercial centre for the Midlands region.
Curdworth lies on the eastern edge of Minworth, one of Birmingham’s most significant and established industrial and distribution areas, located 11.2 km (7 miles) to the north east of Birmingham city centre. Due to its central location, Birmingham benefits from a comprehensive motorway network with the M6, M6 Toll, M5 and M42 all easily accessible. These in turn link directly to the M1, M40, M54 and M69.
The premises comprise a terrace of four steel framed industrial units, with brick and profile cladding elevations enclosed by pitched roofs. Each unit has a roller shutter level loading door with access onto a shared yard and loading area. Unit A/B (Bunzl) have been combined and have one roller shutter door, Units C,D and E (Johnson Controls) have been interlinked to suit the tenants operation.
Parking is contained within the yard area, and Unit A/B benefits from a separate car parking area that fronts onto Kingsbury Road. All units benefit from integral two storey office and ancillary accommodation to the front of the units. The tenants have installed mezzanine floors. Internal eaves height is a minimum of 6 metres. The property sits within a wider site area of 0.59 hectares (1.460 acres)
We are instructed to seek offers in excess of £1,750,000 (One Million, Seven Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT.
A purchase at this level reflects an attractive Net Initial Yield of 7.70% assuming purchaser costs of 6.20%, and a capital value per sq ft of £51.98