Commercial Property - Investment - INDUSTRIAL INVESTMENT FOR SALE
Northampton is one of England’s fastest growing towns with a population in excess of 200,000 and is the strategic location for many national organisations as their central hub for business. Northampton has excellent rail and road communications, with a direct train service to London (3 trains per hour taking as little as 56 minutes) and road links to the M1 at Junctions 15, 15a & 16 and additionally to the A14 in the North.
The property occupies a mid-terrace position in a block of 5 similar units constructed in 2005 at the lower end of a cul-de-sac called Fortune Close. The property has been developed on land adjacent to the Mazda Dealership and is in a location where a mix of uses including motor dealership, trade-counter warehousing and offices predominate. The Riverside Estate has been developed since the 1990’s on a site adjacent to the A45 Expressway providing excellent road access to the M1 motorway approximately 4 miles southwest (Junction 15) and the A14 to the east. Retail warehousing has been developed at the front of the estate with occupiers including Homebase, Boots and Halfords. The estate has become a favoured location for motor dealerships including Mercedes, Land Rover, Renault and Peugeot and Mazda.
The property comprises a modern industrial unit, constructed in steel portal frame. The single storey building has been fitted out by the tenant with ground and first floor offices. The original specification provides reinforced concrete floor, blockwork and cladding to external elevations including party wall and insulated steel roof incorporating translucent light panels. The main area has a minimum eaves height of 7.5 metres. The main area benefits from 3 Phase power, sodium lighting and gas fired warm air blowers. The offices are finished to a good standard. On site car parking is also provided for 10 cars.
The property is let on the following terms:
|Tenant:||Royal Mail Group Limited (Registered Number 04138203)|
|Term:||10 years on FRI Terms from 27th July 2007|
|Rent:||£29,000 per annum exclusive plus estate service charge|
|Rent Review:||End of year 5|
The single storey building has been fitted out by the tenant with ground and first floor offices.
|Ground Floor High Bay Warehouse||370.08 Sq M||3984 Sq Ft|
|Ground Floor Office Section||55.91 Sq M||602 Sq Ft|
|First Floor Office Section||55.91 Sq M||302 Sq Ft|
|Total||482.00 Sq M||5188 Sq Ft|
|Rates Payable 2015/16:||£11,709|
(Excludes Small Business Rates Relief which may apply)
The Rates Payable figure is an estimate. It does not take into account any Transitional Arrangements. It is important that interested parties verify this information with the relevant Borough Council Rating Department.
The freehold interest is available to purchase at a guide price of £400,000 representing a net initial yield of 6.92% assuming purchasers’ costs of 4.75%.
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 Sole Agents: HADLAND CHARTERED SURVEYORS TEL: 01604 639657