Probo Medical Ltd, Electron & Proton_Property for Sale
Probo Medical Ltd, Electron & Proton_Property for Sale
Mount Court, Edison Close, Waterwells Business Park, Gloucester, GL2 2FN, UK

Probo Medical Ltd, Electron & Proton

Asset description

The property consists of two industrial/production warehouses totalling 37,069 sq ft (3,443.7 sq m) GIA.


The main production/warehouse unit (Electron) was constructed specifically for Probo Medical in circa 2010 and is split to provide offices, production areas and warehousing. The building is constructed of steel portal frame construction with brick and PMS elevations and roof. The unit has an eaves height of 6.6 metres, and is accessed by a single up and over loading door. The first floor accommodation provides ancillary offices, training rooms and staff facilities. An area of ancillary and mezzanine storage is also provided at first floor level but not included within the areas. The unit includes 46 parking spaces within the demise, including two electric vehicle charging points.

           

The second warehouse building (Proton) was constructed again specifically for the requirements of Probo Medical in circa 2015,and is split to provide warehousing with ancillary offices and storage. The building is constructed of steel portal frame construction with brick and PMS elevations and roof. The unit has an eaves height of 7 metres, and is accessed by two up and over loading doors. The unit includes ground and first floor offices, a ground floor showroom area, and an ancillary mezzanine storage. The property includes 14 parking spaces and a bike shelter to the front of the unit.

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Attributes

Asking Price
₱235,334,000
Building area Gross
3,444 sm
Occupancy
100.00%
Year built
2010
Cap Rate
6.00%
NOI
₱15,174,000

Media

Investment highlights

  • Well located on Waterwells Business Park, close to both the Gloucester ring road and Junction 12 of the M5 motorway
  • Two modern industrial buildings totalling 37,069 sq ft (3,443.7 sq m) GIA
  • UK Headquarters buildings, built specifically for the tenant in 2010 and 2015
  • Freehold
  • Let to Probo Medical Ltd with a guarantee from Probo Medical LLC
  • Two new 15 year leases from completion, with two options to extend for 5 years
  • 5 yearly reviews linked to CPI (1-3.5% cap and collar)
  • Passing rent of £216,000 per annum equating to an overall rent of only £5.83 per sq ft overall
  • £3,350,000 (Three Million Three Hundred Fifty Thousand Pounds) subject to contract and exclusive of VAT
  • Net Initial Yield of 6.00% after costs of purchase at 7.5%, and the following yield profile based upon CPI at 2.5%

Year Yield

2023 6.00%

2028 6.79%

2033 7.68%

Probo Medical Ltd, Electron & Proton 4_Property for Sale
Probo Medical Ltd, Electron & Proton 4_Property for Sale

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Probo Medical Ltd, Electron & Proton (0 Properties)

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Last updated
Apr 27, 2023