Pinnacle Point

MK2 has successfully sold a privately owned multi-let industrial estate, prominently positioned just off Junction 2 of the M54 motorway.  The freehold property extends to 12.5 acres in total and comprises 155,889 sq ft of industrial accommodation in 15 buildings together with extensive storage yard areas.  Virtually fully let to 6 tenants and producing a rent of £853,400 per annum. Rents range from £3.76 to £6.17 per sq ft on the industrial accommodation with a WAULT of 2.30 years.  The details of transaction remain confidential however the original quoting price was £11,750,000 reflecting a  net initial yield of 6.81% and a reversionary yield of 7.60%.