On behalf of private clients, Cooper Rose Real Estate has sold the freehold interest in two adjacent industrial units in Huyton, Merseyside for a price of £3,500,000, reflecting a net initial yield of 7.59%.
The property is situated on the established Huyton Business Park, adjacent to the intersection of the M62 and M57 Motorways, and comprises two detached, well specified industrial units on a large site extending to 6.47 acres.
Unit 1 comprises 92,117 sq ft whilst Unit 6 provides 31,272 sq ft of accommodation (123,389 sq ft in total).
Unit 1 is secured to the undoubted covenant of City and St James Property Holdings Limited (D&B Rating 5A1) with circa 3.5 years unexpired. Unit 6 is secured to the established covenant of Locker Freight Limited (D&B Rating A1) on a lease expiring in April 2019.
The total current income is £282,690 per annum, reflecting £2.48 psf on Unit 1 and £1.73 psf on Unit 6.
Contact Ben Rose or Mark Powell at our joint agents Christopher Dee.