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More details for Wilson Way, Pool - Industrial for Sale

Booker Wholesale - Wilson Way

Pool, TR15 3RH

Industrial for Sale
£2,075,000
33,030 sq ft

Energy Performance: B

Pool Industrial for Sale

We are instructed to seek offers in excess of £2,075,000 (Two Million And Seventy-Five Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 5.67%, assuming purchasers costs of 6.29%, provides an attractive Equivalent Yield of 8.51% and a Reversionary Yield of 8.99% to reflect a low Capital Value of £62.82 psf. The property is freehold. The property comprises a detached wholesale distribution warehouse constructed in 1960. The building comprises a steel framed, twin bay detached light industrial building with brick and blockwork elevations surmounted by profile steel cladding beneath a lined and insulated corrugated asbestos roof incorporating roof lights. The building has a minimum eaves height of 5.1m. The front of the property is accessed via three automatic half-glazed double-width pedestrian doors in addition to a small roller shutter door beneath a profile steel-clad canopy, extending across the width of the front elevation. To the rear of the property is a loading bay with an electric up-and-over roller shutter door beneath a canopy. Externally, there is parking for 57 cars and yardage. The property is let in its entirety to Booker Ltd on a FRI lease for a term of 10 years, from 29th September 2021, expiring 28th September 2031. The current passing rent is £125,000 pa (£3.78 psf). Next open market rent review due 28th September 2026. In our opinion the property has an ERV of £198,000 pa (£6.00 psf), providing a significant uplift of 58% from the current passing rent.