Summary
| Property Type | Investment |
| Tenure | For Sale |
| Size | 45,143 sq ft |
| Price | Offers in excess of £3,810,000 |
| EPC Rating | This property has been graded as C (73) |
- Strategically located in Westmead Drive, just 2.6 miles from J16 of the M4 motorway.
- Comprises 45,143 sq ft of industrial headquarter premises.
- Occupies a substantial 2.94-acre site, equating to a low site coverage of 24%.
- Freehold.
- Single let to Metric Group Limited for a term of 10 years from 1st November 2024, with a tenant only break option in year 5, at £325,000 per annum, reflecting a low rate of £7.20 per sq ft.
- Metric Group have been occupying the premises since 2005.
- Underpinned by vacant possession value.
- We are instructed to seek offers in excess of £3,810,000 (Three Million Eight Hundred and Ten Thousand Pounds) subject to contract and exclusive of VAT (assuming purchasers’ costs of 6.52%).
- A purchase at this level reflects an attractive Net Initial Yield of 8.00%, and a low capital value of £84 per sq ft.
About
The property comprises a detached 1980s industrial unit of steel portal frame arranged under a corrugated metal roof, occupying a 2.934-acre site. There are 52 car parking spaces, including one disabled space.
The property comprises a ground floor warehouse, glazed reception area and office accommodation arranged over ground and first floors. There is a substantial mezzanine area, which has been installed by the landlord.
The entire property is let to Metric Group Limited (who have been in occupation since 2005) for a term of 10 years by way of a lease renewal from 1st November 2024, with a tenant only break option in year 5, at £325,000 per annum, reflecting a low rate of £7.20 per sq ft.
An element of the car park is sublet to Tom Gallagher Group (M4 Van Centre) on a tenancy at will, dated 27th January 2021, at a passing rent of £9,000 per annum.
Location
The property is located in Swindon, the primary commercial hub of Wiltshire, centrally positioned on the M4 corridor and strategically located between Bristol (30 miles West) and London (80 miles East).
Metric House is situated on Westmead Drive which forms part of a wider, well-established industrial and trade counter location comprising a number of estates including Quadrillion Industrial Estate, Axis Business Centre, Star West, Glenmore Business Park and Pagoda Park. There are limited vacancies across the estate, and in particular for the larger 10,000 sq ft plus units. Westmead Drive is strategically located just 2.6 miles North East of J16 of the M4, accessible via the A3102 or B4534. The estate is bounded by the B4006 to the East and South (Great Western Way and Mead Way respectively), a primary through route from the M4 and a major commercial hub comprising retail and industrial uses.
Tenants located on Westmead Drive comprise a mix of national and local occupiers including Scion, Enigma Electrical, Acorn Press, HDT Global, Aston & Fincher, DBS, Infinite Group, BBL Batteries and Network Rail as well as established trade counter operators such as Brandon Tool Hire, City Plumbing Supplies, Howdens and Travis Perkins.
Mainline Stations
-
Swindon (Wilts)24 mins
-
Kemble228 mins
-
Chippenham285 mins
-
Pewsey300 mins
Underground Station
-
Reading714 mins
-
Twyford799 mins
-
Maidenhead908 mins
-
Taplow942 mins
Downloads
No downloads available at present. For more information, please contact the agents.
Gallery
