Ravensbourne has sold the Dellner Building in Burton on Trent, Staffordshire, for £2.9m to a private investor. The sale price represents a net initial yield of 6.5%.
The property, which is located on Wellington Road, comprises a 32,365 sq ft modern manufacturing unit and circa 3,000 sq ft of office space on a 1.91 acre site.
The unit is let to Silentbloc UK for a term of 10 years from 1 June 2020 at a rent of £200,000 per annum.
Victor Ktori, head of office and commercial department at Savills Nottingham, which represented Ravensbourne on the deal, said: “This is a great manufacturing and office building in Burton on Trent which has an excellent location with strong roadside prominence. The investment offered the buyer a high quality building with great income in a sector in high demand.”
