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Size: 13,719 Sq Ft

Use: Investment

Price: £795,000

Established business park location.

Competitively priced.

Available for investors and owner occupiers.

Reversionary rental

About the property

Location

The property is situated on the established and popular Huncoat Business Park which lies close to junction 8 of the M65 motorway.

This is an established business park with occupiers in the vicinity including Senator International, Clayton Park Bakery, Ewood Foods and Heathside Trading.

The site is also handily placed for access to the A56 which connects to the national motorway network to the south at the M66/M60/M62.

Description

The opportunity comprises two industrial units with a large yard providing additional development potential for the construction of further space (subject to approvals)

The opportunity is of possible interest to investors and owner occupiers.

The two units are of portal frame construction with the front detached warehouse unit extending to 8,824 sq.ft (including first floor offices and canopy) part constructed in 1989 and part in 1996 and the rear detached warehouse unit providing an additional 4,895 sq. ft of accommodation, constructed in 2003.

The units are in a good state of repair. Externally the site benefits from being fully fenced with gated access and ample on site car parking and loading facilities.

At the top plateau within the site there is a large area of land which could be suitable for accommodating an additional building of around 5,000 sq. ft, subject to planning and approvals.

In addition within the site is a small plot previously used as a cafe, which may have additional develop potential, further details on request.

The total site area extends to 1.151 acres.

Accommodation Text

We have calculated the gross internal areas of the premises to be as follows:

Unit 3B- Workshop, Canopy & Offices - 8,824 sq.ft
Unit 3C- Workshop - 4,895 sq.ft

We have calculated that the total floor area is 13,719 sq.ft (GIA)

Services

It is understood that all mains services are connected to the individual units.

EPC

The property has the following EPC ratings:

Unit 3B- D(80)
Unit 3C- C(70)

VAT

VAT is applicable to the figures quoted in these particulars however we expect that VAT registered parties will be able to acquire the property as a TOGC. Further details on request.

Investment Return

Allowing for the ground rent, the net rent generated from the site is £68,450 pa, which based on the asking price would suggest an attractive yield of 8.16% when taking into account acquisition costs.

Lease Terms

The various units are let as follows:

Unit 3B - Let to Apetito Limited (Number 0028351) by way of a 5 year lease commencing on 23rd November 2022 at a rent of £45,000 per annum.

Unit 3c - Let to Capo (Number 10543746) by way of a 3 year lease commencing on 22nd February 2024 at a rent of £30,000 per annum plus VAT.

The leases are held on full repairing and insuring terms. The gross rental income generated from the property is £75,000 per annum.

Viewing Detail

Strictly through agents
Taylor Weaver
Neil Weaver MRICS
01254 699030

Contact about this property