_Knight Frank buys prominent West Bromwich Trade Park

Acting on behalf of Ribston UK Industrial Property, the Capital Markets team of Knight Frank has purchased the Albion Trade Park in Wolverhampton from Quidnet Capital for £1.66 million.

January 15, 2018

The transaction represented a Net Initial Yield of 5.37%.

The trade park was purpose built in 2008 and comprises four terraced units with a combined total floor area of 11,743 sq ft. It is fully let with a total passing rent of £94,724 per annum, reflecting an average rent of £8.07 per sq ft (£86.86 per sq m).

Jonathan Devaney, partner in the Knight Frank’s Birmingham Capital Markets team, said: “Albion Trade Park is probably the most prominent trade park in the West Midlands, situated as it is on the A41 Holyhead Road, which links Birmingham city centre with Junction 1 of the M5 motorway.”

Tenants include CEF, One Call, and Halfords.

DEAL INFORMATION

Address Albion Trade Park, West Bromwich, B21 0AF

Sector Investment –Trade Park

Tenure Freehold

Accommodation 11,743 sq ft

Tenants CEF, One Call, Halfords

WAULT 2.7 years

Rent £94,724 per annum (£8.07 psf)

Vendor Quidnet Capital

Purchaser Ribston UK Industrial Property Limited Partnership

Price £1,660,000 (£141 psf)

Net Initial Yield 5.37%

For further information, please contact:

Ken Harrison, HPR Marketing, kharrison@hprmarketing.co.uk. Call 07801 649045

Olwen Morris-Jones, Commercial PR Manager at Knight Frank, +44 (0)20 7861 1744