Investment News

Acting on behalf of newly introduced private clients, FHP Property Consultants are pleased to announce the successful completion of Units 14 – 16 Moat Way, Barwell.

The property comprised of three industrial units erected 35 – 40 years ago, totaling 26,000ft². Unit 14 was let to Bachman Europe Plc on a lease expiring in 2025 and Units 15 – 16 were let to Brookes Jordan Ltd on a lease expiring in 2020. The current income was £99,000 with an estimated reversionary value of something in the region of £125,000 per annum.

The purchase price agreed was £1,500,000 which after normal purchasing costs showed an initial yield of 6.2%, a reversionary yield of 7.7% and a true equivalent yield of 7.93%.

Noel Roper who acted on behalf of private clients commented;

“Units 14 – 16 Moat Way was the first acquisition for this company and so we were pleased to act in conjunction with Malcolm Grayson of Andrew and Ashwell, who were the selling agents, to agree terms relatively quickly at a figure of £1,500,000. The benefit of this particular property was the purchase price was underpinned by the vacant possession value so that in the event of one of the tenants not renewing the lease, the opportunity could be taken to either upgrade the units and re-let or to sell with vacant possession”.

For more information please contact Noel Roper of FHP Property Consultants on 0115 9507577 / noel@fhp.co.uk

Noel Roper

Date: 25^th March 2019

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