Industrial & Logistics

Carrington Gateway, Carrington, Manchester

144 Manchester Road Greater Manchester, United Kingdom M31 4RQ
Asking Price
Area Size
NOI Net Operating Income
NIY

Documents

I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Property Reference Number 10070453677
Year Built 2020
Building Area Gross
Number of units 6
Occupancy 85.0 %

Asset Description

A Prime Multi-Let Industrial Investment Opportunity

Investment Highlights

  • Carrington Gateway is a prime multi-let industrial investment
  • Carrington Gateway forms part of Phase 1 of the Carrington Estate, one of the UK’s largest regeneration schemes
  • Strategically located within 3 miles of Junction 8 of the M60 orbital motorway, with easy access to the M6, M62 and M61 regional and national motorway network
  • Prominently situated fronting the A6144 (Manchester Road)
  • Total floor area of approximately 211,283 sq ft, arranged in 6 units, ranging from 10,469 sq ft to 103,995 sq ft
  • Design-led architecture in a landscaped environment, combined with a Grade A specification
  • Let to a range of national and regional businesses within 11 months of practical completion
  • The asset will benefit from forthcoming new infrastructure improvements, including the Carrington Relief Road
  • Total passing rent of £1,486,954.75 per annum, equating to a low average rent of £7.04 psf
  • Significant reversion with a total ERV of £1,731,354.75 per annum (£8.19 psf)
  • Site area of 16.1 acres, representing a site density of approximately 30%
  • BREEAM rating ‘Very Good’ and EPC B
  • The property is held virtual freehold on a 999-year long leasehold interest at a rent of £100 per annum
  • We are instructed to seek offers in excess of £32,390,000 (Thirty Two Million, Three Hundred and Ninety Thousand Pounds) subject to contract and exclusive of VAT
  • A purchase at this level would reflect a low capital value of £153.30 psf, providing the following yield profile assuming purchasers costs of 6.77%:

Net Initial Yield - 4.30%

Reversionary Yield - 5.00%

Equivalent Yield - 4.55%

Last Updated Date: 18 May 2022

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Last Updated Date: 18 May 2022

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