Mead Lane, Lydney
Mead Lane, Lydney, Gloucestershire, UK
The property comprises two adjoining industrial units. Each unit benefits from its own yard, car parking and separate access directly off Mead Lane.
Unit 1 comprises a large open plan warehouse with ancillary office and welfare space, totalling 85,034 sq ft (7,899.86 sq m) GIA. The unit is constructed of steel portal frame with part brick elevations and asbestos roof. The warehouse accommodation comprises four loading doors with dock levellers, concrete flooring, roof lights, sprinkler system and an eaves height of 4.7 metres. The ancillary office accommodation has been partially refurbished with suspended ceilings, raised carpeted floors and air conditioning.
Unit 2 comprises a large modern warehouse with ancillary ground and first floor office accommodation, totalling 44,889 sq ft (4,170.25 sq m) GIA. The building is constructed of steel portal frame and was completed in 2001, originally as an extension to the next door warehouse. The warehouse benefits from an eaves height of 7.2 metres, with a sprinkler system (combined with unit 1) and is accessed by two electric shutter doors. The ancillary office accommodation has been fitted out to a high specification including suspended ceilings, raised floors and glass partitioning.
- Two modern industrial units situated within a well-established industrial area of Lydney close to the A48 Bypass
- Direct links to Gloucester and M5 to the east, and M4 Motorway to the south
- 129,923 sq ft (12,070.12 sq m) GIA across two industrial units
- Large site totalling 6.51 acres (2.64 hectares), including 0.4 acres of vacant land
- Let to Trelleborg Industrial Tyres UK Limited and Watts Aviation Services Limited
- Unexpired term of 4.9 years to expiry
- Current rent of £494,000 per annum equating to a very low base rent of only £3.80 per sq ft overall
- Guaranteed growth through RPI indexation and stepped uplifts in the leases
- Offers in excess of £7,000,000 (Seven Million Pounds) subject to contract and exclusive of VAT
- Net Initial Yield of 6.62%, rising to a minimum of 7.18% in 2025 upon uplifts, this assumes purchaser's costs of 6.65%
- Low capital value of only £53.88 per sq ft, underpinned by vacant possession values