Descripción del activo
Situated on Forde Road in Brunel Industrial Estate with easy access to the A380. Modern detached warehouse building, with ground and two upper storey office accommodation.
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Aspectos destacados de la inversión
• Situated on Forde Road in Brunel Industrial Estate with easy access to the A380
• Modern detached warehouse building, with ground and two upper storey office accommodation
• The main warehouse facility comprises 34,050 sq ft (3,153.36 sq m) GIA on a site area of 0.408 acres (0.165 ha)
• The tenant has installed an extensive mezzanine throughout the unit
• Freehold
• FRI lease to International Dance Supplies for a 10-year term from 5th June 2023, with a break option on 11th October 2029
• AWULT of 9.69 years to expiry and 5.69 years to break
• Current rent of £180,511 per annum, equating to a base rent of £8.40 per sq ft on the unit
• Strong tenant covenant of International Dance Supplies Limited with a Creditsafe rating of 73 highlighting a “very low risk”
• We are instructed to seek offers in excess of £2,400,000 (Two Million Four Hundred Thousand Pounds) subject to contract and exclusive of VAT, reflecting a Net Initial Yield of 7.00% (assuming purchaser’s costs of 6.36%), equating to a capital value of £111.60 per sq ft
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