SIG Pedmore Road, Dudley, West Midlands DY2 0RL

• The opportunity to acquire a prominent roadside builders merchant investment.
• The property comprises a single let warehouse extending to 44,843 sq ft (4,166 sq m) and a secondary smaller warehouse extending to 5,593 sq ft (520 sq m). The total area is therefore 50,436 sq ft (4,686 sq m).
• Tenant is obliged to spend £600,000 on a new roof.
• Passing rent of £290,000 per annum, reflecting a low rent of £5.75 psf.
• Let to SIG Trading Limited on a new 10 year lease from 31st July 2023. There is a tenant only break in year 5.
• Rent Review in July 2028 to the higher of Open Market Value or CPI (2%-4%).
• Freehold.
• Total site area of approximately 3.9 acres (1.57 hectares), which reflects a very low site cover of 30%.
• Asset management opportunities, including long term redevelopment and open storage use.

We are instructed to seek offers in excess of £3,513,000 (Three Million, Five Hundred and Thirteen Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 7.75%, allowing for purchaser’s costs of 6.51%, representing a low Capital Value of £70 per sq ft.