Commercial Property in YO15 available for sale
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Warehouse for Sale in the YO15, Bridlington

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More details for Merlin Way, Bridlington - Industrial for Sale

Industrial Unit - Merlin Way

Bridlington, YO15 3QH

  • Industrial for Sale
  • £5,775,000
  • 81,574 sq ft
  • Energy Performance: C
  • Security System

Bridlington Industrial for Sale - East Riding of Yorkshire

We are instructed to seek offers in the region of £5,775,000 (Five Million, Seven Hundred and Seventy Five Thousand pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a yield of 7% after allowing for purchaser’s costs of 6.62% and a capital value of £69.28 sq ft. If the 6 acres is deducted from the purchase price at £600,000, this gives a Capital Value of £62.08 sq ft. The property is held on a Lease to Elliott Group Ltd dated January 7th 2009, for a term of 15 years from December 12th 2008, expiring December 11th 2023. There is a Schedule of Condition dated December 10th 2008 attaching to that Lease, although the Tenant Company has subsequently expended considerable monies in upgrading the building and external areas. The Rent under the current Lease is £361,000 per annum.

Contact:

Andrew Butcher & Associates

Property Subtype:

Warehouse

Date on Market:

14/02/2023
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