SOLD Muller UK & Ireland Group

Aldridge is an established industrial location within the West Midlands conurbation. The area has good motorway access with the M6 toll 6 miles to the north of the town and junction 7 of the M6 approximately 5.5 miles to the south.

Prominent position on Brickyard Road 0.5 miles from the Town Centre and in the vicinity of a number of industrial estates including Haywood Industrial Park, Beecham Business Park and Empire Industrial Park.

Freehold, two bay steel portal frame unit, originally constructed in the 1980’s and extensively refurbished and re-roofed in 2002 with a clear height of 9 metres. Benefitting from 1 level access door, 6 dock doors with levellers, a canopy and a large secure concrete yard.

Gross Internal Area of circa 61,931 sq ft together with canopy area of 3,012 sq. ft.

Let to Muller UK & Ireland Group LLP for 15 years from 8th July 2008 with a tenant break clause on 8th July 2018 subject to 9 months notice. The passing rent is £250,024 which equates to £4.00 per sq ft, the next open market rent review is on 8th July 2018.

Highly reversionary to an estimated £297,749 per annum equating to £4.75 per sq ft.

Formerly operating as Dairy Crest the unit is used as a milk distribution depot for a number of large supermarket contracts. The tenant upgraded the unit to provide a substantial chilled storage facility which is subject to full reinstatement provisions. For the year ending 2015 Muller UK & Ireland Group LLP had a turnover of £1.337billion and a net worth of £326million.

We are instructed to seek offers in excess of £3,025,000 (Three Million and Twenty Five Thousand Pounds) subject to contract, which reflects a net initial yield of 7.76% and a reversionary yield of 9.25% after allowing for purchasers costs of 6.46%. A purchase at this level would show a low capital value of £48.84 per sq. ft.