Verified listing
Newly built  multi-let trade counter / industrial estate
Newly built  multi-let trade counter / industrial estate
Newly built  multi-let trade counter / industrial estate
Newly built  multi-let trade counter / industrial estate
Newly built  multi-let trade counter / industrial estate

Newly built multi-let trade counter / industrial estate

England, United Kingdom

81%

£21.165.000

Industrial

Core

1 Jun 2022

#12968

Property Details

124,487 sq.ft.

11,565 m²

Leasable area

170.02 £/sq.ft.

1,830 £/m²

4.50 %

7

Freehold

For sale

Broker

X

Fees

0.00 %

0.40 %

0.00 %

0.40 %

Investment Overview

Highly sought-after location, reflected by the outstanding tenant line up. Comprising 124,487 sq ft across 13 well-specified units, built to a Grade A standard. Built to a high specification including 8-10m eaves, generous concrete yards and parking areas, and electric roller shutter doors. Let to 7 tenants (83% occupancy) - 3 units currently vacant but with excellent interest. Passing rent of £1,016,673 per annum (£6.75 to £10.50 per sq ft) of which 23% is subject to uncapped RPI rent reviews. Conservative ERV of £1,129,741 per annum (£8.25 to £10.50 per sq ft). Weighted Average Unexpired Lease Term (WAULT) of 13.57 years to expiry and 9.74 years to break. Total site area of approximately 6.66 acres providing a low site density of 43%.. Freehold. Seeking offers in excess of £21,165,000 subject to contract and exclusive of VAT.