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Gibson Ln 437,347 sq ft Industrial Property North Ferriby HU14 3HB £9,840,000 (£22.50/sq ft) 7% Net Initial Yield
Investment Highlights
- A detached industrial facility extending to 437,347 sq ft arranged across two interconnected warehouse buildings.
- Melton sits immediately adjacent to Melton West, a 200-acre strategic employment development
- The lease benefits from Five yearly rent reviews CPI compounded annually, subject to a 1.5% collar and 3.5% cap per annum.
Executive Summary
An opportunity to acquire a substantial industrial and manufacturing facility in Melton, East Yorkshire.
The property is let to SCA Products (UK) Limited, guaranteed by SCA Forest Products Aktiebolag and BSW Timber Solutions Ltd (via an AGA). The property is let on a FR&I lease until 21 March 2039 (13 years term certain) at a current rent of £735,105 per annum, equating to a low £1.68 per sq ft.
The property is let to SCA Products (UK) Limited, guaranteed by SCA Forest Products Aktiebolag and BSW Timber Solutions Ltd (via an AGA). The property is let on a FR&I lease until 21 March 2039 (13 years term certain) at a current rent of £735,105 per annum, equating to a low £1.68 per sq ft.
Property Facts
| Price | £9,840,000 | Net Internal Area (NIA) | 437,347 sq ft |
| Price per sq ft | £22.50 | No. Floors | 1 |
| Sale Type | Investment | Year Built | 2005 |
| Yield | 7% | Tenancy | Single |
| Tenure | Freehold | Parking Allocation | 0.16/1,000 sq ft |
| Property Type | Industrial | Eaves Height | 26 ft 2 in (7.98 m) |
| Property Subtype | Warehouse | No. Dock-High Doors/Loading | 15 |
| Costar Property Class | B | No. Drive In / Grade-Level Doors | 9 |
| Total Plot Size | 25.00 ac |
| Price | £9,840,000 |
| Price per sq ft | £22.50 |
| Sale Type | Investment |
| Yield | 7% |
| Tenure | Freehold |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Costar Property Class | B |
| Total Plot Size | 25.00 ac |
| Net Internal Area (NIA) | 437,347 sq ft |
| No. Floors | 1 |
| Year Built | 2005 |
| Tenancy | Single |
| Parking Allocation | 0.16/1,000 sq ft |
| Eaves Height | 26 ft 2 in (7.98 m) |
| No. Dock-High Doors/Loading | 15 |
| No. Drive In / Grade-Level Doors | 9 |
Amenities
- Fenced Lot
- Security System
- Yard
- EPC - B
- Roller Shutters
- Storage Space
Utilities
- Lighting
- Water
- Heating
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