News - Midlands
Willow Farm site bought
A private investor has bought a site at Willow Farm Business Park in Castle Donington for £1.1m.
Franck-Steier Price acted on behalf of the unnamed party to buy the 18,223 sq ft site. The property is a semi detached unit.
The deal price represents an initial yield of 8.16 per cent. The seller was also a private investor and was represented by Rigby & Co on the deal.
The property is currently let to Plant and Consumable Services on a 15-year lease that began in May 2002. The current rent is £95,000 per year and the lease is held on full repairing and insuring terms subject to five yearly upward only rent reviews.