Britannia Enterprise Park in Lichfield, near Birmingham, has been sold for £4.15m.
Haslemere Estates Management, acting on behalf of Beaucette Property Partnership, bought the park from Auditglen and Vert Estates. The deal reflects a net initial yield of 9%.
The estate comprises 7,900 sq m (85,000 sq ft) of light industrial use with 34 units ranging from 93 sq m (1,000 sq ft) to 1,370 sq m (14,740 sq ft). The passing annual rent of £390,940 reflects an average rent of £49.50 per sq m (£4.60 per sq ft), which is considered to be reversionary.
CB Hillier Parker represented Haslemere, while Westley & Hedge acted for the vendor.
EGi News 14/07/98
