For Sale
Units 1-9, Milvale Street, Stoke-on-Trent, ST6 3NT
Offers in the region of £495,000
14,875 sq ft (1,382 sq m)
Request a viewing Call Agent on 01782 202294 Download BrochureDescription
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
Key Points
- Long Standing Tenants
Location
The property is situated on Milvale Street in Middleport, a short distance from Burslem town centre and within close proximity of the A500 dual carriageway which provides access to the M6 motorway. Junctions 15 and 16 of the M6 are located approximately 6.3 and 6.9 miles distant respectively. Middleport Pottery is located adjacent the property.