Property Information
Address:
40 Hemmells, Basildon, Essex
, SS15 6ED
, Essex
, United Kingdom
Price: Buy: POA
Size: 9539 sq ft886 sqm
Primary Category: Investment
All Categories:
Investment,
Property Ref/Movehut: MH682707
Property Ref/Agent: 44478
*Please use the agent ref when calling the agent directly.
Property Date Information
Last Updated: May 8, 2024
Property description
Description
The property comprises a semi detached industrial unit with brick and block work lower elevations beneath upper elevations clad externally in profile metal sheeting, supporting a pitched roof. The unit is accessed via either a central single personnel door, or through two surface level roller shutter doors Within the unit there is a basic show room and storage area at ground floor, and a large mezzanine on the first floor The specification within the unit consists of a 4.5 m eaves height, translucent roof lights, and a mix of LED lights and high bay sodium lighting. The building also benefits from 6 allocated on site car parking spaces within a generous yard, and on road parking in the surrounding areas
AN OPPORTUNITY TO ACQUIRE A WELL LET INDUSTRIAL UNIT IN ONE OF BASILDON'S PROMINENT INDUSTRIAL AREAS
LOCATED WITHIN AN ESTABLISHED COMMERCIAL LOCATION WITH EXCELLENT ACCESS TO JUNCTIONS 29 AND 30 OF THE M25 MOTORWAY
THE PROPERTY BENEFITS FROM A STRONG COVENANT, WITH AN UNEXPIRED LEASE TERM OF 3.4 YEARS.
RENT PASSING OF £77,000 PER ANNUM
WE ARE INSTRUCTED TO SEEK OFFERS IN EXCESS OF £1,150,000 (ONE MILLION ONE HUNDRED AND FIFTY THOUSAND POUNDS), SUBJECT TO CONTRACT AND EXCLUSIVE OF VAT.
A PURCHASE AT THIS LEVEL REFLECTS A NET INITIAL YIELD OF 6.32%, AN ANTICIPATED REVERSIONARY YIELD OF 6 66 AND A CAPITAL VALUE PER SQ FT OF 120 55 ALLOWING FOR PURCHASERS COSTS OF 5 89%
The building has been measured on a Gross Internal Area basis in accordance with the RICS Code of Measuring Practice 6th Edition) The areas are as follows:
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