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Brake Bros Victoria Business Park 11,495 sq ft Industrial Property Roche PL26 8LX £1,000,000 (£86.99/sq ft) 6.50% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Established industrial and logistics location
- Modern cold store distribution facility on a site of 1.1 acres
- Single let on 20 year lease expiring February 2033
EXECUTIVE SUMMARY
Seeking offers in excess of £1,000,000 (One million pounds) for the freehold interest of the premises, reflecting a net initial yield of 6.5% (assuming purchaser’s costs of 5.75%) and a capital value of only £74 per sq ft.
The property is let to Sysco GB Ltd (formerly Brake Bros Ltd) on a 20 year lease without break expiring 26th January 2033, providing an unexpired lease term of approximately 7 years. The current rent is £68,663 per annum which equates to a rent of £5.08 per sq ft. There are upwards only rent reviews every 5 years annually compounded in line with RPI (subject to a cap of 4% pa). The property is let on Full Repairing and Insuring terms subject to a Schedule of Condition. The tenant has a right of renewal for a further term of 15 years on 6 months’ notice.
The property is let to Sysco GB Ltd (formerly Brake Bros Ltd) on a 20 year lease without break expiring 26th January 2033, providing an unexpired lease term of approximately 7 years. The current rent is £68,663 per annum which equates to a rent of £5.08 per sq ft. There are upwards only rent reviews every 5 years annually compounded in line with RPI (subject to a cap of 4% pa). The property is let on Full Repairing and Insuring terms subject to a Schedule of Condition. The tenant has a right of renewal for a further term of 15 years on 6 months’ notice.
PROPERTY FACTS
| Price | £1,000,000 | Costar Property Class | B |
| Price per sq ft | £86.99 | Total Plot Size | 1.09 ac |
| Sale Type | Investment | Net Internal Area (NIA) | 11,495 sq ft |
| Yield | 6.50% | No. Floors | 2 |
| Tenure | Freehold | Year Built | 1970 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Refrigeration/Cold Storage |
| Price | £1,000,000 |
| Price per sq ft | £86.99 |
| Sale Type | Investment |
| Yield | 6.50% |
| Tenure | Freehold |
| Property Type | Industrial |
| Property Subtype | Refrigeration/Cold Storage |
| Costar Property Class | B |
| Total Plot Size | 1.09 ac |
| Net Internal Area (NIA) | 11,495 sq ft |
| No. Floors | 2 |
| Year Built | 1970 |
| Tenancy | Single |
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Brake Bros | Victoria Business Park
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