Industrial & Logistics
Under Contract

Units 5-8 Curlew Trade Park, Threemilestone, Truro TR4 9LG

Unit 5 Threemilestone Industrial Estate, Truro, Cornwall, TR4 9LG, UK

Units 5-8 Curlew Trade Park, Threemilestone, Truro TR4 9LG_Property for Sale

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Units 5-8 Curlew Trade Park, Threemilestone, Truro TR4 9LG 2_Property for Sale

Asset description

The property comprises 4 high quality trade counter units, constructed in the early 2000’s of steel portal frame construction. The units are arranged in two semi-detached terraces and the specification includes profile metal sheet elevations and roof with internal brick elevations. 


The units have an eaves height of 5.6 metre eaves on Unit 7 & 8 and 4.1 metre eaves on unit 5 & 6. The units range in size from 2,032 sq ft to 6,321 sq ft. 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 the following specification: 


  • Steel portal frame construction
  • Internal brick-built elevations
  • Profile metal sheet clad roof
  • Up and over/roller shutter doors
  • Eaves height of between 4.1-5.6 metres
  • Trade counter entrance
  • Personal forecourt for loading and deliveries

Attributes

Asking Price
$2,325,000
Building area gross
17,463 sf
Occupancy
100.00%
Year built
2000
Property Reference Number
100041023484

Investment highlights

  • A high quality prominent, multi let trade counter estate located on the established Threemilestone Industrial Estate in Truro
  • 4 units arranged in two terraces built in the early 2000’s to a high specification
  • The property extends to 17,463 sq ft (1,622 sq m) GIA
  • 0.93 acre (0.38 hectare) site reflecting a low site coverage of 35%
  • Freehold
  • WAULT of 6.59 years to expiry and 4.34 years to break
  • Current passing rent of £113,500 per annum equating to circa £6.50 per sq ft overall reflecting 52% discount on recently achieved prime levels
  • 69% of income is secured against national trade counter occupiers with D&B rating of 4A1 and 5A1
  • We are instructed to seek offers in excess of £1,900,000 (One Million Nine Hundred Thousand Pounds) subject to contract and exclusive of VAT
  • Net Initial Yield of 5.62% (assuming purchaser’s costs of 6.25%) and a current Reversionary Yield of 6.89%
  • Capital Value of only £108.80 per sq ft which is significantly underpinned by vacant possession values
  • The forecasted yields are outlined below:
    • Net Initial Yield - 5.62%
    • Yield upon the completion of Unit 8’s outstanding review - 6.16%
    • Yield upon Unit 6’s rent review - 6.47%
    • Full Reversionary Yield - 6.89%
Units 5-8 Curlew Trade Park, Threemilestone, Truro TR4 9LG 4_Property for Sale
Units 5-8 Curlew Trade Park, Threemilestone, Truro TR4 9LG 4_Property for Sale

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Last updated
Nov 30, 2022