Encon Investments Limited, Revolution Park, Chorley

• Strategic location between junction 8 of the M61 motorway and junction 28 of the M6 motorway,
• 9 miles south of Preston and 25 miles north Manchester City Centre.
• Revolution Park is a prime distribution / logistics park, set within a high-quality landscaped environment which forms part of a wider mixed-use scheme known as Buckshaw Village.
• Unit R3 comprises a prime modern distribution warehouse totalling 9,897 m2 (106,532 ft2).
• Let to Encon Investments Limited, on a full repairing and insuring lease, for a term of 10 years from 10 January 2023, subject to a Tenant’s break option dated 10 January 2028. Encon Limited act as Guarantor to the lease.
• Encon Limited provide a strong covenant, with a Credit Safe Rating of 99.
• Current passing rent of £676,523 per annum, reflecting a low overall rate of £6.35 psf.
• Estimated Rental Value of £958,788 per annum, reflecting an overall rate of £9.00 psf.

We are instructed to seek offers in excess of £11,750,000 (Eleven Million and Seven Hundred and Fifty Thousand Pounds) exclusive of VAT, reflecting an initial yield of 5.40%, reversionary yield of 7.65%, net of 6.71% purchaser’s costs and capital value of approximately £110psf.