The Maltings Industrial Estate, Bath_Property for Sale

Unit 7 The Maltings Industrial Estate, Bath, Somerset, BA1 3JL, UK

The Maltings Industrial Estate, Bath

Asset Description

The property comprises of 15 high quality trade counter units, constructed in the late 1990’s of steel portal frame construction. The units are arranged in two semi-detached terraces and one larger unit fronting the estate.

The estate accommodates wholesalers, retailers and further light industrial/trade counter businesses. Each unit benefits from its own trade counter entrance, forecourt for loading and deliveries with up and over roller shutter doors.

Each unit benefits from its own trade counter entrance, forecourt for loading and deliveries with both up and over and roller shutter doors. The units comprise of the following specification:

Steel portal frame construction
Internal brick-built elevations
Profile metal sheet clad roof
Mezzanine
Up and over/roller shutter Roller shutter doors
7.0/7.5 metre eaves height
Trade counter entrance
Yard space fronting the unit
Allocated car parking

...

Attributes

Asking Price

€10,930,000

Building area Gross

5,645 m²

Occupancy

100.00%

Year built

1999

Property Reference Number

10001123376

Cap Rate

5.50%

NOI

€642,000

Media

Investment Highlights

An extremely rare opportunity to acquire a prime city centre multi-let industrial estate
Strong rental uplift due to limited stock and no speculative development under construction
15 high quality trade counter units arranged in two terraces built in the late 1990’s
The property extends to 60,762 sq ft (5,645 sqm) GIA
3.59 acre (1.45 hectare) site reflecting a site coverage of 38%
Freehold
WAULT of 5.28 years to expiry and 3.29 years to break
Multi let to 11 tenants providing a spread of expiries and covenants
Current passing rent of £557,776 per annum equating to circa £9.18 per sq ft overall
An ERV of £731,838 per annum reflecting £12.00 per sq ft overall
We are instructed to seek offers in excess of £9,500,000 (Nine Million Five Hundred Thousand Pounds) subject to contract and exclusive of VAT
Reflecting a Net Initial Yield of 5.50% and a Reversionary Yield of 7.22% (assuming purchaser’s costs of 6.69%). This equates to a capital value of only £156 per sq ft