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Crooklands Rd 5,913 sq ft Industrial Property Milnthorpe LA7 7LR £654,000 (£110.60/sq ft) 8.41% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Excellent transport communications located approx 2.5 miles from M6 motorway.
- Benefits from 15 car parking spaces.
- Located c. 10 miles south of Kendal, along the m6 linking Cumbria with Lancashire and the wider north west region.
EXECUTIVE SUMMARY
The property is let to Pelta Medical Papers Limited on a new FRI lease for a term of five years wef 8th May 2024, expiring 7th May 2029. The initial rent of £55,000 per annum (£9.30 psf) is to be reviewed on the third anniversary in line with OMRV. The tenant’s repairing liability is limited by way of a schedule of condition. The lease is contracted out of the Landlord & Tenant Act 1954.
PROPERTY FACTS Sale Pending
| Price | £654,000 | Total Plot Size | 0.18 ac |
| Price per sq ft | £110.60 | Net Internal Area (NIA) | 5,913 sq ft |
| Sale Type | Investment | No. Floors | 1 |
| Yield | 8.41% | Year Built | 2000 |
| Tenure | Freehold | Tenancy | Single |
| Property Type | Industrial | Parking Allocation | 2.54/1,000 sq ft |
| Property Subtype | Distribution Warehouses | Eaves Height | 19 ft (5.79 m) |
| Costar Property Class | B | No. Drive In / Grade-Level Doors | 5 |
| Price | £654,000 |
| Price per sq ft | £110.60 |
| Sale Type | Investment |
| Yield | 8.41% |
| Tenure | Freehold |
| Property Type | Industrial |
| Property Subtype | Distribution Warehouses |
| Costar Property Class | B |
| Total Plot Size | 0.18 ac |
| Net Internal Area (NIA) | 5,913 sq ft |
| No. Floors | 1 |
| Year Built | 2000 |
| Tenancy | Single |
| Parking Allocation | 2.54/1,000 sq ft |
| Eaves Height | 19 ft (5.79 m) |
| No. Drive In / Grade-Level Doors | 5 |
AMENITIES
- 24 Hour Access
- Storage Space
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Crooklands Rd
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