A long-term investment into a geographically diverse multi-let industrial portfolio with the highest concentration of units situated in the West Midlands at 22% by income. The portfolio consists of 24 estates, 316 tenancies and a total floor area of approximately 2m sq ft producing a yield of about 9%. The vacancy rate at approximately 29% provides significant opportunities to increase occupancy levels and the passing rent. The income is secured to a diverse spread of tenants including Wolseley, Goodyear Dunlop Tyres Ltd and Vodafone for example.
To reduce rental voids, void costs and increase yield and capital values through planning gain, building design improvements, active tenant management and deployment of appropriate capital expenditure in an improving market.