Industrial & Logistics

OfficeTeam Distribution Centre

Dartmouth Road Smethwick, West Midlands United Kingdom B66 1BL
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 32149551
Building Area

Property Description

Modern, distribution facility in a prime West Midlands industrial location. The property comprises two interconnected warehouses, identified as Chamber 1 and Chamber 2 totalling 189,719 sq ft.

Investment Highlights

  • Rare opportunity to acquire a modern, distribution facility in a prime West Midlands industrial location.
  • Situated in the heart of the Birmingham conurbation with immediate access to Junction 1 of the M5 motorway.
  • Accommodation totalling 189,719 sq ft (17, 625 sq m) in 2 distinct chambers.
  • Eaves heights to the underside of the haunches ranging from 7.5m to 16m.
  • Occupied by OT Group (guaranteed by Paragon Group Limited) by virtue of a license agreement, expiring 31 December 2021.
  • The current licence fee is £85,000 per month (£1,020,000 pa / £5.38 per sq ft) increasing on the 14 May 2021 to £91,666 per month (£1,100,000 per annum), reflecting £5.80 per sq ft.
  • Freehold.

We are instructed to seek offers in excess of £14,000,000 (Fourteen Million Pounds) subject to contract and exclusive of VAT. A purchase at this price would reflect an attractive net initial yield of 6.82% rising in May this year to 7.35% after purchaser’s costs of 6.8%.


The price reflects a low capital value of only £73.79 per sq ft.

Last Updated Date: 19 Mar 2021
Allan Wilson
Allan Wilson
Director - Capital Markets
Bill Martyn-Smith
Bill Martyn-Smith
Surveyor - Capital Markets

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Last Updated Date: 19 Mar 2021

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