Merchant Workspace, Adwick Park, Rotherham S63 5AB_Property for Sale

Adwick Park, Rotherham, S63 5AB, UK

Merchant Workspace, Adwick Park, Rotherham S63 5AB

Description

The property comprises 12 fully let modern, purpose built units across four detached terraces on a Freehold site with gross area of 3.67 acres (3.15 acres net of unit sold off LLH). Ranging in size from 2,859 sq ft – 6,524 sq ft and extending to a total Gross Internal Are (GIA) of 49,738 sq ft.

The property is located in the heart of South Yorkshire, providing easy access to the M1 Motorway (J36) approximately 7 miles to the west via the A6195 (Dearne Valley Parkway), and to the A1(M) Motorway (J35, J36 & J37) approximately 6 miles to the east.

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Attributes

Building area gross

4,621 sm

Occupancy

100%

Units

WAULT to breaks

3.3 years

WAULT to expiries

4.5 years

Media

Investment highlights

Current passing rent of £322,913 per annum equating to a low rate of £6.49 psf

WAULT of 4.5 years to expiries and 3.3 years to breaks

Significant scope for reversion with a number of lease events in the short term and the majority of tenancies contracted outside the LTA 1954

We are instructed to seek offers in excess of £4,040,000 (Four Million and Forty Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level equates to a Net Initial Yield of 7.50% assuming standard purchaser’s costs of 6.54%

A purchase at this level reflects a low Capital Value of £81 per sq ft and a Reversionary Yield of 9.64%