Industrial & Logistics

Heartbeat Distribution, Redditch

Unit 1, Velocity 42, Redditch, Worcestershire United Kingdom B98 7HN
Asking Price
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price
NOI Net Operating Income N/A
Cap Rate N/A

Documents

I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Property Reference Number 200003627928
Building Area

Property Description

Modern distribution facility with 15 years of index-linked income.

Investment Highlights

  • A modern, strategically located distribution warehouse facility located on a new distribution park development.
  • Located within an excellent logistics network, positioned with easy access to junctions 2 and 3 of the M42 motorway, which in turn provides access to the M40 interchange to the east and the M5 interchange to the west.
  • Strong labour supply dynamics, with 42.4% of residents in Redditch working in manufacturing, transport & storage, and wholesale trade.
  • Built in 2019, the unit extends to 45,810 sq ft (4,255.89 sq m) GIA.
  • Freehold.
  • The Property is let in its entirety to The Heartbeat Manufacturing Co (Redditch) Limited for a term of 15 years on full repairing and insuring terms.
  • The passing rent is £312,000 per annum, equating to £6.81 per sq ft.
  • The lease will incorporate 5-yearly, upwards only rent reviews to the compounded RPI pa (subject to a collar and cap of 1% pa - 4% pa).

We are instructed to seek offers in excess of £5,300,000, subject to contract and exclusive of VAT. A purchase at this level reflects an attractive Net Initial Yield of 5.50% assuming standard purchasers’ costs and a capital value of £115.70 per sq ft.

Last Updated Date: 19 Oct 2020
Allan Wilson
Allan Wilson
Director - Capital Markets
Bill Martyn-Smith
Bill Martyn-Smith
Surveyor - Capital Markets

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Last Updated Date: 19 Oct 2020