Spring Road, Ettingshall, Wolverhampton

Spring Road, Ettingshall, Wolverhampton

  • Significant opportunity to acquire a substantial industrial asset in the heart of the Black Country let to three major tenants on long leases.
  • Prominently located at Spring Road in Ettingshall 3 miles to the South East of Wolverhampton and 4.9 miles from junction 10 of the M6 motorway.
  • Extending to 243,853 sq. ft. the estate comprises three main industrial buildings arranged in bays with eaves heights from 7.9m to 27.5m together with extensive yard and parking areas.
  • Freehold extending to 18.55 acres.
  • Predominately let to three very well established tenants with a WAULT to lease expiry of 11.3 years and a WAULT to lease break of 9.5 years.
  • Current income of £607,568 per annum which equates to £2.49 per sq ft overall which is low and reversionary to approximately £714,272 equating to £2.92 per sq ft.
  • We are instructed to seek offers in the region of £7,500,000 (Seven Million Five Hundred Thousand Pounds) subject to contract and exclusive of VAT reflecting a net initial yield of 7.66% a reversionary yield of 9.00% and a capital value per sq. ft. £30.76.
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