Property description
Opportunity to acquire a sell specified single let industrial investment situated in a prime Greater Manchester location, just 2 miles from J24 of the M6 motorway.
The property comprises 31,503 sq ft of industrial accommodation on a site of 2.63 acres, providing a low site cover of 27%.
The property is let to Chemviron Carbon Ltd who are a secure, D&B 4A2 rated covenant with a tangible net worth of £27.3M. They have been in occupation since 1993 and also occupy the adjacent unit. The lease runs through to December 2029 (4.75 years unexpired) at a rent of £245,000 per annum, reflecting £7.30 psf on the building and £53,571 per acre on the surfaced overage land. ERV of £173,848 per annum, offering scope for reversion.
The purchase price of £3,175,000 reflects a NIY of 7.25%, reversionary yield of 8.10% and a low capital value of £96.34 psf (assuming £500 p/acre on additional hardstanding).
Thank You
Your request has been received. A member of the team will be in touch.
Agents
