An industrial unit in Staffordshire has changed hands in a £2.17 million deal brokered by commercial property consultancy Burley Browne.
Burley Browne successfully negotiated terms on behalf of a private investor client for the industrial investment sale of 38 Amber Close, Amington, Tamworth, to a property investment company.
The industrial/warehouse property extends to 32,000 sq ft and is subject to an occupational lease to Strong’s Plastics Ltd, with terms agreed for the sale reflecting a net initial yield of approximately 8% based on the headline rent achieved. Set behind a secure gated entrance, it offers parking for 37 cars and a yard, positioned within the popular Amington area of Tamworth.
It includes a reception area with atrium leading on to a series of office/store areas over two levels. To the rear is a twin bay warehouse benefitting from level access loading door into the yard and has an approximate minimum internal eaves height of six metres. The building sits within a total site area of approximately two acres.
Ben Nicholson, senior associate director at Burley Browne, said: “Burley Browne has had an exciting start to the year with this deal, which generated competing bids, being the second multi-million pound industrial investment sale already. It reinforces the high level of demand and interest generated for this type of opportunity.”
Should you have a freehold property that you wish to sell or let and would like to discuss how Burley Browne can generate and fully maximise the marketing of your commercial premises or require further advice or assistance on a commercial property matter, please do not hesitate to contact Burley Browne on 0121 321 3441 or via our website www.burleybrowne.co.uk.
Burley Browne is one of the West Midlands’ leading independent commercial property consultants. It provides a comprehensive range of commercial property services to a wide variety of clients. These include private individuals and small businesses, through to pension funds, banks, property investors and developers, multi-national companies and national retail and leisure operators.