Property Information
Address:
The Energy Centre, 16 Lindred Road, Nelson, Lancashire
, BB9 5SR
, Lancashire
, United Kingdom
Price: Property no longer available.
Size: 30834 sq ft2864 sqm
Primary Category: Investment
All Categories:
Investment,
Property Ref/Movehut: MH644531
Property Ref/Agent: 109104
*Please use the agent ref when calling the agent directly.
Property description
Multi let business space investment
- Property Comprises two former industrial units converted into high quality offices.
- Fully let to three tenants extending to 30,834 sq ft (NIA).
- Total site area of 1.80 acres.
- 128 secure on site car parking spaces (1:241 sq ft).
- Passing rent £240,000 per annum (average of only £7.78 per sq ft).
- Long leasehold interest (125 years unexpired at 1 peppercorn).
- 5 year leaseback on part to Businesswise Solutions Ltd.
- 4.2 years to expiry (3.5 years to break).
- Significant recent capital expenditure on refurbishment.
- Recent lease renewal to longstanding tenant (Digital Wholesale Solutions Ltd).
- Reflecting NIY of 9% and a cap value of £81 sq ft on purchaser costs of 6.38%.
Location Highlights
The Property is located on the well-established Lomeshaye Industrial Estate on junction 12 of the M65 motorway. The estate provides a mixture of industrial, distribution, office, retail and car showroom users.
Fully let to 3 tenants.
128 secure on site car parking spaces.
Passing rent £240,000 per annum.
4.2 years to expiry.
Net initial yield of 9%.
Capital value of £81 per sq ft.
4.2 years to expiry (3.5 years to break).
Recent lease renewal to longstanding tenant (Digital Wholesale Solutions Ltd).
We are seeking offers over £2.5M (Two Million,
Five Hundred Thousand Pounds), subject to contract and exclusive of VAT.
A purchase at this level reflects a net initial yield of 9% and a capital value of £81 per sq ft (NIA) based on purchaser costs of 6.38%.
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