Wed, 04 Dec 2013 | COMMERCIAL PROPERTY
A number of commercial properties have been put up for sale in the Midlands after a retired investor opted to sell up his portfolio.
The businessman is selling a group of properties with an asking price of around £2 million. They include two units in the Heathcote Industrial Estate in Warwick and another in Gloucestershire on the Quedgeley West Business Park. CPBigwood are acting as the agents on the sale.
Graham Carter, partner with CPBigwood, commented on the commercial property for sale: “There is a significantly improved market for freehold commercial investments and we expect plenty of interest in these.”
One of the units is currently being used as a gym and fitness centre and offers a rental income of £30,000 a year and has a two-year let which began in July 2012. One of the other units is rented by a car care operation. There is a 15-year lease on the property which runs from August 2012 with an annual rent of £54,000, these are rented to Just Car Clinics, along with a further two units that the firm also rents on a lease at £72,000 a year.
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