|Property Reference Number||200004402452|
The property comprises a detached industrial unit, incorporating integral
two storey offices, of steel portal frame construction, incorporating profile
metal clad elevations and roof. It was developed in 1997.
- Prime industrial investment opportunity.
- Located 7 miles east of Manchester City Centre, within 2 miles of both Junction 23 of the M60 and Junction 1A of the M67.
- Situated in a prominent position, at the entrance to Tameside Park.
- Modern self-contained unit, built to a high specification, comprising approximately 114,989 sq ft (10,682.74 sq m).
- Site area of 3.01 h (7.45 acres) providing a low site coverage of 35%.
- Fully let to Ritrama (U.K.) Limited who provide a strong covenant (D&B rating of 3A2). 16 year lease with effect from 1st April 2014 and expiring on 31st March 2030, providing an unexpired term of circa 9 years.
- Total rent of £488,750 per annum, equating to a low overall rate of £4.25 per sq ft.
- Future rent reviews in 2024 and 2029, subject to capped 15% OMV increases.
- Significant reversion, with an ERV of £632,439 per annum, equating to £5.50 psf.
- We are instructed to seek offers in excess of £8,180,000 (Eight Million, One Hundred and Eighty Thousand Pounds) subject to contract and exclusive of VAT.
- Low capital value of approximately £71 psf.
- A purchase at this level reflects an initial yield of 5.60% and an ultimate reversionary yield of 7.25%, after the deduction of purchasers costs of 6.67%.