West 303, Sparkford, Yeovil, BA22 7JJ

303 Sparkford Hill Lane, Yeovil, Somerset, BA22 7JJ, UK

Description

West 303 Sparkford, originally the home of Haynes Publishing Group, the world’s largest publishers of automotive manuals, having produced and sold over 200m copies since the early 1970s. Haynes Publishing, to this day, remains in occupation.

The estate has recently been extensively refurbished and reconfigured to provide a number of self-contained units, the majority of which are steel portal-framed structures occupied as warehouses, light manufacturing, and offices.

Two of the larger occupiers, Yapp Bros and Emtech Hatchery Systems, have undertaken significant tenant improvements, further enhancing the buildings and their long-term commitment to the estate.

In general, the buildings comprise:

• Open span steel portal frame structures for the majority of the buildings

• Profile steel cladding with stone at lower levels

• Electrically operated up/over Roller Shutter doors and steel personnel doors

• Security perimeter fencing throughout

• Substantial main car park for circa 65/70 Cars

• A combination of Warehousing, manufacturing and offices

...

Attributes

Building area net

7,671 sm

Occupancy

100%

WAULT

12.37 years

Asking price

₱468,153,000

Media

Investment highlights

Yeovil is a historic and prosperous market town with a population of c 65,000
Easy access to the A303 trunk road, providing the main access road through the heart of Somerset, linking into the M5 at Exeter
West 303 comprises a multi let industrial estate which has undergone significant recent refurbishment
Tenants have also undertaken significant capital improvements to their units, highlighting their commitment to the buildings
82,574 sq ft (7,671.31 sq m) GIA of industrial and office accommodation
Site area of 4.3 acres, with 0.72 acres of excellent parking provision
Freehold
Rental income of £496,750 per annum exclusive
Low base rent of only £6.02ft overall with strong growth potential
Strong income stream with AWULT of 12.37 years to expiry, and 3.85 years to break
95% of the income headquartered on the estate

We are instructed to seek offers in excess of £6,000,000 (Six Million Pounds) subject to contract and exclusive of VAT, reflecting a Net Initial Yield of 7.76% (assuming purchaser's costs of 6.71%). This equates to a capital value of only £72.66 per sq ft.