Commercial property for sale

Key Points

Description

We are delighted to offer for sale a rare opportunity to acquire this well let freehold industrial investment.

We are advised that the property is let Delta Cash and Carry ltd with a rental deposit and Personal Guarantee on the following lease terms:-

10 year lease from November 2021 with a tenant only option to break and rent review at the end of the 5th year.
Current Rent: £51,000 per annum.
Full Repairing and Insuring Lease.

We are of the opinion that the rental value should be in the region of £60,000 per annum and this can be achieved in November 2026.

The unit is semi-detached and benefits from a fenced and gated yard and parking to the front.

Location

Unit 1 Kingfisher Business Park is located within the Widnes Waterfront regeneration zone, approximately 3 miles from Junction 7 of the M62 and Junction 12 of the M56, to the east of Widnes Town Centre.

This is a much improved location, Marshall have recently completed a scheme of new large warehouses opposite and the well-regarded Heron Business Park is adjacent.

Specification

*Loading door 4m high
*3 phase electricity
*Internal office accommodation
*Dedicated yard with perimeter fencing
*Dedicated loading yard

Asking Price

£715,000 exclusive of VAT, togc may apply.

Tenure

Freehold.

VAT

We are advised that VAT is applicable to the property.

Anti-Money Laundering Regulations

In accordance with Anti-Money Laundering Regulations, two forms of Identification and confirmation of the source of funding will be required from the successful purchaser.

Yield & Analysis

A purchase at the above asking price presents and net initial yield of 6.75% and a reversionary yield of 8%, allowing for purchaser's costs at 5.6%. It also represents a competitive capital rate of just £91.67 per ft2.