South West multi-let trade estate

A rare opportunity to acquire a highly reversionary South West multi-let trade estate. The property comprises 42 industrial units and two self-contained office buildings. The total area extends to approximately 149,740 sq ft. Long established occupiers include Rexel, Plumbase, Edmundson Electrical and City Plumbing Supplies. Let to 26 tenants, with a marketing rent of £1,561,363 per annum reflecting a very low blended rent of £10.43 per sq ft overall. There are currently four tenants holding over and six outstanding rent reviews. There are a further 15 lease events within the next 18 months providing an opportunity to significantly increase the rental income. The estate is highly reversionary with a headline ERV of £2,026,700 per annum, reflecting £13.53 per sq ft overall. Site area of approximately 9.53 acres providing a very low site cover of 31%. The property has a WAULT of 4.1 years to lease expiries and 3.2 years to lease breaks. Occupiers in the vicinity include Travis Perkins, Eurocell, Toolstation, Howdens, Homebase & Screwfix.