|Property Reference Number||100120717318|
The Property was developed in 2000 and consists of a two bay modern distribution warehouse of steel portal frame construction extending to 92,374 sq ft (8,581.83 sq m) GIA. The Property incorporates well maintained ancillary oﬃce accommodation over two floors.
- A modern, strategically located distribution warehouse with immediate access to Junction 7 of the M5 Motorway.
- A self-contained distribution warehouse benefiting from the following specification:
- Built in 2000
- 9m eaves
- 43 m secure yard
- 2 storey ancillary offices
- The unit extends to 92,374 sq ft (8,581.83 sq m) GIA
- 4.43 acre (1.80 hectare) site reflecting a low site cover of 48%
- The Property is let in its entirety to the established third Party Logistics provider Bibby Distribution Ltd (Dun & Bradstreet rating 4 A2)
- Bibby Distribution Ltd have recently re-geared their existing lease to provide a new 5 year reversionary lease until 7th October 2025, equating to an unexpired term of 5.2 years to expiry
- Current passing rent of £510,000 per annum equating to £5.52 per sq ft
- We are instructed to seek offers in excess of £7,900,000 (Seven Million Nine Hundred Thousand Pounds) reflecting a Net Initial Yield of 6.05% (assuming purchaser’s costs of 6.66%) and a capital value of £85.52 per sq ft subject to contract and exclusive of VAT