Clow Business Park, Garratts Lane, Cradley Heath, West Midlands, B64 5RG

Key Features

Total GIA 39,126 ft2
Rental of £148,900 per annum
We are instructed to seek offers in excess of £1,500,000
Net Initial Yield of 9.47% taking into consideration purchaser's costs at 4.80%
Site Area – 1.51 acres
Freehold
Significant asset management potential

Property Description

The estate comprises a substantial industrial warehouse that has been split to provide a number of industrial workshops and warehouses with a two-storey element to the front of the main building.

The two-storey element is of traditional construction with brick elevations beneath a flat felted roof.

The main warehouse areas vary in specification being constructed in part with streel portal and steel truss construction with all being surmounted by a pitched roof and full height brickwork elevations.

All units benefit from concrete flooring and roller shutter access to the main yard area.

The estate benefits from forecourt car parking in addition to a secure yard area with access around the estate.

Number 44a situated to the front of the estate, comprises a derelict two storey property.

Situation

Clow Business Park occupies a convenient position on Garrett Lane, close to its junction with Corngreaves Road (A4100).

The estate is well located for access to the regional road network:

•M5 Motorway (Junction 2 or 3) – approximately 5 miles to the east, providing direct links to the M6, M42 and national motorway network.
•A458 and A4034 – nearby arterial routes connecting to Dudley, Stourbridge, Halesowen and Birmingham.
•Cradley Heath Railway Station – within 1 mile, offering regular services to Birmingham Snow Hill and Worcester.
•Birmingham city centre – approximately 9 miles to the east.

Tenure

The property is held Freehold under title number WM548647.

Proposal

We are instructed to seek offers in excess of £1,500,000 subject to contract. A purchase at this level would provide an initial yield of 9.47% assuming usual purchaser's costs at 4.80% and a low capital value of £38.00 ft2.

VAT

The property is elected for VAT. However, it is anticipated the sale will be treated as a TOGC.

Legal Costs

Each party are to be responsible for their own legal costs incurred during this transaction.

Energy Performance Certificate (EPC)

An EPC is available on request.

Location

Clow Business Park is situated in Cradley Heath, a well established industrial and commercial location within the West Midlands. Cradley Heath forms part of the Metropolitan Borough of Sandwell and lies approximately 9 miles west of Birmingham city centre and 3 miles south of Dudley.