DFS & Sofology, Wootton Bassett Road, Swindon

Wootton Bassett Road, Swindon, SN5 8WF

Description

The property comprises a modern purpose built retail warehouse totalling 20,799 sq ft (1,932 sq m). The unit is of steel portal framed construction, with brick and blockwork infill and steel profile clad and glazed elevations under a profile clad roof.

Internally, the tenant has divided the unit into two and installed mezzanines throughout the unit for the tenant's 2021 subdivision.

At the front of the unit is a tarmacadam customer car park providing approximately 89 parking spaces, including 8 disabled bays, giving a parking ration of 1:234 sq ft.

The unit benefits from a secured service yard to the south-west of the building.

...

Attributes

Building area net

1,919 m²

Occupancy

100%

WAULT

14 years

Asking price

THB 205,235,000

Media

Investment Highlights

A modern purpose-built retail warehouse located in a prominent position on Wootton Bassett Road to the west of Swindon town centre
The property extends to 20,799 sq ft (1,932 sq m) GIA overall, split to provide two individual retail units
2.2 acres (0.9 hectares) site reflecting a site coverage of 21.5% on ground floor footprint
Freehold
Let to DFS and Sofology on a co-terminus leases, for a term of 15 years expiring on 23rd March 2040, with a break option in March 2035, subject to a break penalty equivalent to two years rent
An attractive long income WAULT of 14 years to lease expiry (9 years to break option)
Combined passing rent of £353,582 per annum equating to circa £17.00 per sq ft overall
Capital value of only £228 per sq ft

We are instructed to seek offers in excess of £4,740,000 (Four Million, Seven Hundred and Forty Thousand Pounds) subject to contract and exclusive of VAT, reflecting a Net Initial Yield of 7.00% (assuming purchaser's costs of 6.58%)