On behalf of a private family office TDB Real Estate have acquired a quality industrial investment in Walsall.

A price of £2.35m showing a net initial yield of 5.8%.

The premises comprise approx. 30,292 sqft on 2.55 acres, with two large yard areas and a separate car park. Eaves height is 10.5m.

The modern building is let to Carrier Rental Systems Ltd (5A1 D&B covenant) with an unexpired term certain of 10 years and a review in 5 years to the higher of RPI (no caps) or open market.

The rent is £145,000 pa (£4.78 psf) which is under rented.  Allsops acted for the vendor.

Mark Brown at TDB commented; “We are delighted to complete this acquisition. Our client was looking for a good quality building let to a strong tenant in a good location. This ticks all the boxes and has the added benefit of being reversionary. An initial price was agreed pre Covid, this was renegotiated but not substantially, the net initial yield went from 5.5% to 5.8%. We are working on other investment deals presently and the market is still strong for the right product.”