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Units 1-10 Crofton Dr 13,998 sq ft 92% Let Industrial Property Lincoln LN3 4NR £1,600,000 (£114.30/sq ft) 7.50% Net Initial Yield
Investment Highlights
- Reversionary growth potential
- Close proximity to A15 and Lincoln Eastern Bypass
- Passing rent £115,340 pa
Executive Summary
- Located on the established Allenby Trading Estate, a short distance of the A15 (Lincoln Eastern By-Pass) and two miles northeast of Lincoln City Centre
- A multi-let Industrial Investment comprising 10 units totalling 14,110 sq ft (1,311 sq m)
- Site area 0.88 acres (0.356 hectares)
- The property is let on 9 individual leases, with Unit 10 being offered by way of a 12 month rental guarantee
- Passing Rent of £115,340 per annum
- We are instructed to seek offers in excess of £1,600,000 (ONE MILLION, SIX HUNDRED THOUSAND POUNDS), subject to contract.
- A purchase at this level shows an initial yield of 7.5%* based on usual purchase costs and a reversionary yield of 9.1%* Capital Value £113 per sq ft
*Assuming a 12-month rental guarantee on Unit 10.
Property Facts
| Price | £1,600,000 | Property Subtype | Warehouse |
| Price per sq ft | £114.30 | Costar Property Class | B |
| Sale Type | Investment | Total Plot Size | 0.90 ac |
| Yield | 7.50% | Net Internal Area (NIA) | 13,998 sq ft |
| Tenure | Freehold | No. Floors | 1 |
| Property Type | Industrial | Year Built | 1990 |
| Price | £1,600,000 |
| Price per sq ft | £114.30 |
| Sale Type | Investment |
| Yield | 7.50% |
| Tenure | Freehold |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Costar Property Class | B |
| Total Plot Size | 0.90 ac |
| Net Internal Area (NIA) | 13,998 sq ft |
| No. Floors | 1 |
| Year Built | 1990 |
Amenities
- Yard
- Roller Shutters
- Common Parts WC Facilities
Utilities
- Lighting
- Water
- Sewer
Space Availability
- Space
- Size
- Space Use
- Fit-Out
- Available
The industrial estate comprises of end and mid terrace light industrial units of steel portal frame construction with brick/block walls surmounted by lined corrugated sheet cladding and similarly clad pitched roofs. Each unit has separate pedestrian and roller shutter vehicular access doors together with allocated staff/WC facilities and in some cases, offices. Externally, there is allocated parking, 1 roller shutter door and yard. The unit has been fully refurbished to include new WC, LED Lighting, Respraying Cladding, Roller Shutter Door and a new UPVC Front door. Comprehensively refurbished starter units immediately available for occupation.
| Space | Size | Space Use | Fit-Out | Available |
| Ground - Unit 10 | 1,110 sq ft | Industrial | Partial Fit-Out | Now |
Ground - Unit 10
| Size |
| 1,110 sq ft |
| Space Use |
| Industrial |
| Fit-Out |
| Partial Fit-Out |
| Available |
| Now |
Ground - Unit 10
| Size | 1,110 sq ft |
| Space Use | Industrial |
| Fit-Out | Partial Fit-Out |
| Available | Now |
The industrial estate comprises of end and mid terrace light industrial units of steel portal frame construction with brick/block walls surmounted by lined corrugated sheet cladding and similarly clad pitched roofs. Each unit has separate pedestrian and roller shutter vehicular access doors together with allocated staff/WC facilities and in some cases, offices. Externally, there is allocated parking, 1 roller shutter door and yard. The unit has been fully refurbished to include new WC, LED Lighting, Respraying Cladding, Roller Shutter Door and a new UPVC Front door. Comprehensively refurbished starter units immediately available for occupation.
Presented by
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Units 1-10 Crofton Dr
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