Multi Let Industrial Investment (redevelopment potential)

With a total area of approximately 7 acres, the current site coverage is only 27.13%, presenting significant potential for future development. The existing buildings, totalling 82,740 sq ft, vary in age, specification, and construction and includes two open storage facilities. There are shared offices to the front of the site, together with industrial units to the front and the rear of the site. The site also includes three advertising hoardings. Total passing rent of £377,500 per annum Significant reversion to a conservative ERV of at least £475,000 per annumL. WAULT of 5.34 years to lease expiries and 4.04 years to breaks. Tenants include Hanover Dairies, Northgate Vehicle Hire & JC Decaux. Over 94% of the income is from tenants considered to be ‘Low’ or ‘Very Low’ risk by CreditSafe.