|Property Reference Number||100062480466|
The property forms part of a terrace of six modern industrial units which are accessed from the main estate road. The two adjoining units are currently interconnected via the party wall but could easily be occupied as two self-contained units.
The property is constructed from steel portal frame with brick elevations and re-clad roof. Each unit has an eaves height of approximately 3.5 metres and has access to the secure yard via electric shutter doors. The property also benefits from access to the secure rear yard via a shared access road leading directly off Star Road.
Internally each unit comprises ground floor warehouse accommodation, with dedicated reception area, kitchen facilities and first floor ancillary office accommodation.
The units benefit from car parking for 14 spaces to the front of the property within the common areas.
- Situated on Star Road Industrial Estate, the main industrial location for Partridge Green
- Two separate industrial units totalling 8,082 sq ft (750.86 sq m) GIA
- Let to Plysolene Limited, whose main HQ warehouse is adjacent
- Let until 30th June 2029 (unexpired term of 8.25 years to expiry)
- Rent of £56,733 per annum reflecting a low base rent of only £7.02 per sq ft overall
- Annual RPI linked rental increases (cap and collar of 2.50%-5%)
- We are instructed to seek offers in excess of £850,000 (Eight Hundred and Fifty Thousand Pounds) reflecting a Net Initial Yield of 6.32% (assuming purchaser's costs of 5.56%), an equivalent yield of 6.88% and a reversionary yield of 7.52% in July 2028
- Capital value of £105 per sq ft which is underpinned by vacant possession values.
- The Investment will provide the following yield profile based upon the minimum uplift of 2.5% per annum:
- 2021 6.32%
- 2022 6.48%
- 2023 6.64%
- 2024 6.81%
- 2025 6.98%
- 2026 7.15%
- 2027 7.33%
- 2028 7.52%