27-29 Sherwood Road, Bromsgrove_Property for Sale
27-29 Sherwood Road, Bromsgrove_Property for Sale
Aston Fields Industrial Estate, Bromsgrove, Worcestershire, B60 3DR, UK

27-29 Sherwood Road, Bromsgrove

Asset Description

The property is situated within Bromsgrove’s principle commercial area, Aston Fields Industrial Estate, located in a strong and established trade counter / industrial area.

 

Originally constructed in 1979, refurbished and extended in more recent years, the property comprises 4 terraced units set across two levels, with units ranging in size from 5,704 sq ft to 14,067 sq ft. The units are of steel portal framed construction, surmounted by either a pitched or monopitched roof with translucent panels and brick and blockwork cavity elevations. All units benefit from prominent frontage onto Sherwood Road.

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Attributes

Asking price
TRY 161,394,000
Cap rate
6.5%
Building area net
3,582 m²
Occupancy
100%
Year built
1979
Number of units
4 units

Media

Investment Highlights

  • Highly prominent multi-let trade counter investment opportunity in the well established industrial and trade location of Aston Fields Industrial Estate, Bromsgrove
  • Bromsgrove is a successful commercial centre in Worcestershire, located approximately 15 miles (24.14 km) south west of Birmingham City Centre
  • Excellent transport links with the A38 Bromsgrove Bypass connecting to J1 of the M42 and J5 of the M5, providing access to the wider national motorway network
  • Highly visible trade location fronting Sherwood Road, the main arterial route through Aston Fields Industrial Estate, the main industrial & commercial area within Bromsgrove
  • Comprises of 4 trade counter units extending to a total of 38,561 sq ft (3,582 sq m)
  • Fully let to high profile trade occupiers including Howdens, Toolstation, Screwfix and Wigwam Self Storage
  • Highly reversionary passing rent of £272,300 p.a. with a low average rent of £7.31 psf
  • Rents in the surrounding area have reached in excess of £10.00 psf, with a number of comparable transactions in the £8.50 - £10.50 psf rental range
  • Numerous asset management angles to improve rents, term and value. Unit 4 (14,067 sq ft) has a rent review during 2026 with a passing rent of £6.75 psf
  • Average weighted unexpired term of 10.13 years to expiry and 7.12 years to break
  • Freehold


We are instructed to seek offers in excess of £3,940,000 (Three Million, Nine Hundred and Forty Thousand Pounds) reflecting a net initial yield of 6.50% with strong reversionary prospects, assuming standard purchaser’s costs of 6.80%. This price reflects a low capital value of only £102.18 psf.

27-29 Sherwood Road, Bromsgrove 4_Property for Sale
27-29 Sherwood Road, Bromsgrove 4_Property for Sale

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27-29 Sherwood Road, Bromsgrove (0 Properties)

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Last updated
10 Apr 2024