Industrial/Logistics - Investment - UNIT 1 - Sutton Coldfield
- Prime Midlands distribution location
- Let to the strong covenant of Kuehne + Nagel Limited for a further 5.25 years
- Totalling a gross internal area of 104,558 sq ft
- Substantial reversion
- Self-contained site with secure yard
The property comprises a well-configured 2 bay steel portal frame unit constructed in 1979 on a secure self-contained site. Internally the property benefits from a profile clad roof with 10% translucent roof lights, sodium spotlights, a concrete screed floor and an eaves height of 8.2 m rising to 11.3 m at the pitch with elevations which are part brick/part profiled steel sheeting. Loading is provided by way of 6 dock level loading bays and 7 level access loading doors with canopies. Office accommodation is provided to the front of the unit over 2 storeys while a further single storey office and reception block has been constructed by the occupier to the north west of the unit.
Externally the property benefits from palisade fencing, a gatehouse and security barriers. In addition to the yard surrounding the unit further parking is provided to the east of the property accessed from First Avenue. The site benefits
from excellent roadside frontage with First Avenue running along the perimeter to both the south and west.
The subject property is located on First Avenue, close to the junction with Forge Lane and the entrance to Maybrook Industrial Estate. The A38 Kingsbury Road dual carriageway provides direct access to Birmingham City Centre. Opposite the property on the southern side of the A38 lies Midpoint, a 65 acre distribution park developed by Prologis.
Nearby occupiers include Cadbury Schweppes, Webasto, Hozelock, GKN Driveline and The Pallet Network.
53.7 million people can be reached within 4.5 hours HGV drive time, ranking Birmingham 12th in terms of access to population. The city benefits from a district population of 977,087, and an urban area population of 2,383,081 within 20km (12.5 miles).
The property currently produces £381,000 per annum, reflecting a low rent of only £3.64 per sq ft (£39.22 per sq m)
Seeking offers of £4,500,000 (Four Million Five Hundred Thousand Pounds), subject to contract, which reflects an attractive net initial yield of 8.00% after purchaser’s costs of 5.80%
- Minimum eaves heights : 11.30
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Birmingham international airport is approximately 8km (5 miles) to the south of the property whilst East Midlands international airport is approximately 56km (35 miles) to the north east.
Excellent road communications, with 3 motorways within a 7km (4 miles) radius the property.
Approximate drive times of 20 minutes to Birmingham, 2 hours 15 minutes to Manchester and 3 hours to London.
Mr Hugh White 5 Aldermanbury Square EC2V 7HR 02073384415
Mr Oliver D'Souza 5 Aldermanbury Square EC2V 7HR +44(0) 207 338 4865
Mr Oliver Forster 9 Colmore Row B3 2BJ 0121 237 1213