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Cannon St 21,250 sq ft Industrial Property Middlesbrough TS1 5RY £1,845,000 (£86.82/sq ft) 7.75% Net Initial Yield
Investment Highlights
- Excellent connectivity
- Close proximity to local amenities
- Strategic location
Executive Summary
A single let 21,250 sq ft well specified industrial unit. Let in its entirety to Fujifilm Diosynth Biotechnologies UK Limited on FRI terms. The tenant’s break option at 19 April 2026 was not exercised, leaving approximately 4.6 years unexpired. Current rent passing of £151,695.95 per annum reflecting £7.14 psf. Offers sought in excess of £1,845,000, reflecting a net initial yield of 7.75% after purchaser’s costs of 6.23% and a low capital value of £87 per sq ft.
Property Facts
| Price | £1,845,000 | Total Plot Size | 1.15 ac |
| Price per sq ft | £86.82 | Net Internal Area (NIA) | 21,250 sq ft |
| Sale Type | Investment | No. Floors | 1 |
| Yield | 7.75% | Year Built | 2005 |
| Tenure | Freehold | Tenancy | Single |
| Property Type | Industrial | Parking Allocation | 0.28/1,000 sq ft |
| Property Subtype | Warehouse | Eaves Height | 18 ft (5.49 m) |
| Costar Property Class | C | No. Drive In / Grade-Level Doors | 3 |
| Price | £1,845,000 |
| Price per sq ft | £86.82 |
| Sale Type | Investment |
| Yield | 7.75% |
| Tenure | Freehold |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Costar Property Class | C |
| Total Plot Size | 1.15 ac |
| Net Internal Area (NIA) | 21,250 sq ft |
| No. Floors | 1 |
| Year Built | 2005 |
| Tenancy | Single |
| Parking Allocation | 0.28/1,000 sq ft |
| Eaves Height | 18 ft (5.49 m) |
| No. Drive In / Grade-Level Doors | 3 |
Amenities
- 24 Hour Access
- Fenced Lot
- Yard
- Roller Shutters
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