Price Offers in excess of £1,615,000 reflecting a net initial yield of 6.00%, reversionary potential from early 2025 and a capital value of £123psf, assuming purchaser’s costs of 6.15%.

Description

The site extends to c.0.76 acres, with a site density of approx. 40%. The site comprises 2 light industrial units constructed in the 1990s, each with dedicated yards and parking. Both units are of steel portal frame construction with a mixture of metal profile cladding and brick elevations under a pitched metal deck roof with rooflights and provide 6.6m clear eaves height.
Unit 1 benefits from a frontage on to Wildmere Road. The property provides both warehouse and office accommodation with suspended LED spotlights, a manually operated sectional up and over door and a power floated concrete floor. The tenant has constructed two mezzanine storage areas which allow for vertical storage underneath with smaller items stored on top.
Units 2-4 benefit from a prominence that can be seen from the A422. Given the nature of the tenant’s business, the space is largely used for storage with racking systems throughout with a small office/welfare block in the front left hand corner and two trade counter areas which the tenant has created. These are fitted in the Screwfix corporate style with counters for payment that back on to the warehouse area. The unit is well specified with energy saving heat/cooling sources, LED lighting, three sectional roller shutter doors and power floated concrete floor.