Commercial Property - Investment - MULTI-LET DISTRIBUTION DEPOT INVESTMENT OPPORTUNITY
Northampton is one of England’s largest and fastest growing towns with a population of 220,000. It’s central location at the heart of the motorway network (M1 junctions 15, 15a and 16) has resulted in many national organisations choosing it for their headquarters. Northampton Railway Station is 1 mile away with Euston trains running hourly with a travel time of 56 minutes.
The site is located at the lower end of Stour Road on the Weedon Road Industrial Estate. Access is via Ross Road forming part of the Weedon Road Industrial area close to the Sixfields Leisure Complex. Road access is via Edgar Mobbs Way linking with Sixfields and St James Mill Road Industrial Estate, providing excellent access to Northampton Town Centre approximately 1½ miles distance and to Junction 15A of the M1 Motorway approximately 2 miles away. The immediate locality is characterised by industrial and warehouse uses but the site is also immediately adjacent to residential.
The site provides 2 warehouse buildings plus ancillary areas standing either side of a concrete yard area.
Unit 2
Probably constructed in 1950s in traditional steel frame with dual pitched ‘A’ frame supported roof structure in 2 bays plus additional 2 storey office section and a vehicle workshop.
Unit 4
A more modern semi-detached structure (possibly dating to 1980s) in steel frame construction clad in vertically hung profile steel cladding with split-height roof section and single loading door plus single storey office/ancillary area and first floor mezzanine office.
External Yard
The property benefits from a concrete yard, which is fenced and capable of accommodating HGVs and staff car parking.
| Unit | Description | Size GIA (sq ft) | Tenant Business Category | Lease Start | Terms | Rent (pa) |
| 2a | Main Warehouse | 12,983 | Transport company |
19/12/2019 Tenant since 2009 |
5 year lease FRI with schedule Outside the landlord and tenant act 1954 |
£30,000 (£2.31 psf) Rent to be increased to £33,000 per annum exclusive for years 4-5 |
| 2b | Vehicle repair workshop | 1,973 | Vehicle servicing and repair |
01/05/2019 Tenant since 2011 |
5 year lease FRI with schedule Outside the landlord and tenant act 1954 |
£9,000 (£4.56 psf) Rent to be increased to £10,000 per annum exclusive for years 4-5 |
| 2c | Ground floor office and workshop | 2,210 | Office/workshop |
01/03/2021 |
4 year lease FRI with schedule Outside the landlord and tenant act 1954 |
£12,000 |
| 2d | First floor office | 2,210 | Health Care company | Q3 2020 |
3 years Outside the landlord and tenant act 1954 |
£8,000 |
| 4 | Warehouse and office | 12,325 | Removals company | 01/09/2018 |
10 year lease Tenant break and rent review after 6 years FRI with schedule Outside the landlord and tenant act 1954 |
Yr 1 £27000 (£2.19psf) Yr 2 £55000 (£4.46psf) Yr 3 £57500 (£4.67psf) Yr 4 £57500 (£4.67psf) Yr 5 £60000 (£4.46psf) Yr 6 £60000(£4.87psf) |
| Present rent passing | £113,500 per annum exclusive |
| Ground Floor | 58.16 sq m | (626 sq ft) |
| First Floor | 20.44 sq m | (220 sq ft) |
| TOTAL NET INTERNAL AREA | 78.60 sq m | (846 sq ft) |
| (Plus basement unmeasured) |
Tenants responsibility
The freehold interest is offered for sale at £1,800,000. With a present annual income of £113,500 per annum exclusive. We consider there to be significant potential for rental growth.
Alternatively, consideration will be given to a sale of Unit 2 in isolation (terms available on request from the agent).
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
