Commercial Property - Investment - FULLY LET INDUSTRIAL INVESTMENT
Northampton is one of the UK’s most established logistics centres, being strategically located at the heart of the “golden triangle” and immediately to the east of the M1 motorway.
Road connections in the area are excellent with the A43, A45, A508 and A428 all providing access to surrounding areas. Junctions 15, 15A and 16 of the M1 motorway are all easily accessible from Brackmills Industrial Estate providing access to the UK’s motorway network. The towns arterial route includes the A14 providing access to the east coast ports of Harwich and Felixstowe within 2.5 hours drive time.
Northampton railway station is situated 5 miles north west of the property, providing regular direct train services to London Euston and Birmingham New Street with journey times of 46 minutes and 1 hour respectively.
The property is located on Salthouse Road on Brackmills Industrial Estate, one of the premier industrial estates in the region. Brackmills Industrial Estate comprises a 750 acre business park and is home to over 140 businesses and in excess of 11,500 employees. Notable occupiers on the estate include, Dascher, Stanley Black and Decker, Clipper Logistics, Travis Perkins, Barclaycard and John Lewis. There is also a good level of amenities close by with Greggs, Subway and Costa Coffee located on Brackmills.
Cornwell Business Park comprises a multi let terrace of 4 industrial units of steel portal frame construction with part brick and part metal clad elevations under pitched roofs. The units provide a mixture of clear span and undercroft warehouse space along with modern open plan office space.
Each unit benefits from a minimum eaves height of 6.4m rising to 7.6m. Each unit also benefits from a single roller shutter door with designated loading to each unit.
The property is arranged in a single terrace with extensive parking and loading areas to the front of the premises.
The property is let to three tenants and produces a total passing income of £135,700 per annum reflecting a low average rent of £6.25 per sq ft. The property has significant reversionary potential with an estimated rental value of £156,000 per annum, reflecting £7.00 per sq ft overall. The indicative ERV is supported by the lease renewal on unit 35 reflecting £7.39 per sq ft.
The property benefits from a WAULT of 5.45 years to lease expiry and 3.45 years to lease breaks.
Renovotec Ltd (Company No: 035540976) - 29.5% of income
Revontec Ltd have an Endole Score of 76/100 which represents a minimal risk of business failure and have produced the following accounts for the last three years.
Rico Logistics Ltd (Company No: 02869014) – 50% of income
Rico Logistics Ltd have an Endole Score of 95/100 reflecting a minimal risk of business failure and has produced the following accounts for the last three years.
Amenties Ltd (Company No: 04590106) – 20.5% of income
|Unit||SQ FT||SQ M|
35 Cornwell Business Park – RV £23,750
37 Cornwell Business Park – RV £25,500
39 Cornwell Business Park – RV £25,750
41 Cornwell Business Park – RV £22,000
We are instructed to seek offers in excess of £1,825,000 (One Million, Eight Hundred and Twenty Five Thousand Pounds) reflecting an NIY of 7% (subject to contract and exclusive of VAT) allowing for purchasers costs of 6.22%.
All figures quoted are exclusive of any VAT that the landlord may have a duty or choose to impose.
Each party shall bear their own legal costs involved in the transaction.
Strictly by appointment through the Joint Agents: HADLAND CHARTERED SURVEYORS TEL: 01604 639657 and Drake Commercial: 01604 620616