Description

The property comprises a self-contained industrial investment let to two long standing tenants who have been in occupation for circa 20 years. Units 1-2 are occupied by GM Panels on a lease which expires in September 2026 with Units 3-9 being occupied by Ace Vauxhall Parts who are currently holding over on their lease agreement.

The total current passing rent is £46,100 per annum exclusive which breaks back to a low £3.09 per square foot overall. There is an excellent opportunity for value enhancement through asset management and a potential reversionary rent of £61,750 per annum exclusive.

A purchase at the quoting level reflects:

Net Initial Yield – 9.31%
Reversionary Yield – 12.47%
Capital Value – £33.27 per square foot