Warehouses for sale in the Teignbridge, Newton Abbot

Commercial Property in Teignbridge available for sale

Warehouses for Sale Within 10 miles of the Teignbridge, Newton Abbot

More details for Yeoford Way, Exeter - Industrial for Sale

Dcet House - Yeoford Way

Exeter, EX2 8LB

Industrial for Sale
£975,000
10,956 sq ft

Exeter Industrial for Sale

We are instructed to seek offers in excess of £975,000 (Nine Hundred & Seventy-Five Thousand Pounds) subject to contract and exclusive of VAT, reflecting a Net Initial Yield of 6.94% (assuming purchaser’s costs of 5.69%), and a Reversionary yield of 9.32%. This equates to a capital value of only £88.99 per sq ft. The property comprises a steel portal frame industrial unit with a large secure rear yard. The unit was built in 2004 and has profile metal sheet elevations under a pitched roof. The unit has an eaves height of 5.7m and is accessed via two up and over loading doors. The main warehouse area has a concrete floor and has been partially subdivided by the tenant into smaller teaching areas. The unit includes ground and first floor office accommodation, toilet, and staff facilities. An additional area of first floor accommodation has been fitted out by the tenant to provide further training rooms. Externally there is a large secure yard area to the rear, and parking for 14 cars to the front and side of the unit. The property is let on a lease from 10 September 2018 to Focus Training SW Ltd (with a surety from Prosper SW Ltd) for a term expiring on 30 March 2034. The lease is on full repairing and insuring terms. The property produces a current rental income of £65,000 per annum, which equates to a low base rent of only £6.42 ft (applying 50% to the additional first floor office area). The property has an AWULT to expiry of 8.42 years. The property is situated just to the south of Marsh Barton Trading Estate, a well-established trading estate which is one of the city’s largest employment hubs supporting over 500 businesses. The A30, which links to the M5 (Junction 31) is about 1 mile to the south. The estate was recently boosted by the opening in 2023 of the £16 million Marsh Barton train station. The station provides easy public access to the estate and has improved accessibility for customers and staff of the tenant. Matford Business park forms an extension to Marsh barton Industrial Estate immediately to the south. The Park offers more modern and better specified accommodation for a variety of car showroom, industrial, trade, office and showroom occupiers. Nearby occupiers include car showroom operators such as VW, Tesla and Land Rover, trade occupiers such as Euro Car Parts, City Plumbing, and Huws Gray, and other occupiers such as Bestway & Makro.