|Property Reference Number||100012806884|
The property comprises of 2 modern detached industrial units of steel portal frame construction, incorporating profile metal clad elevations and roofs.
Unit A has recently been refurbished to a very high standard, following a letting void.
The specification for each unit includes the following:
• Eaves height of approx. 10m to the underside of the haunch
• Pitched insulated roof, incorporating translucent roof panelling
• New roof coating to Unit A (with 30 year guarantee available)
• Unit A has 3 ground level access loading doors
• Unit B has 1 ground level access loading door and 3 dock levellers
• Heating and lighting in Warehouse B
• Emergency lighting in Unit A
OFFICES / ANCILLARY
• Two storey ancillary office accommodation
• Heating and lighting
• Open plan and cellular accommodation
• Disabled access passenger lift
• Male, female and disabled WC’s
• Unit A has a yard depth of 29m
• Unit B has a yard depth of 40m
• Separate staff and visitor car parking areas
• Both units have secure perimeter metal fencing to the perimeter, together with CCTV security
• Prime industrial investment opportunity.
• Located in Warrington, in close proximity to Junction 8 and 9 of the
• Situated on the well-established Gemini West Business Park, in a
prominent position fronting Europa Boulevard.
• 2 modern self-contained units built to a high specification, totalling
73,237 sq ft (6,804 sq m).
• Unit A comprises of 24,760 sq ft (2,300 sq m) and has recently been
refurbished. Unit B comprises of 48,477 sq ft (4,504 sq m).
• Unit A is subject to an Agreement for Lease to Activate Accident
Repair Group Limited, for a 10 year FRI term at an agreed rent £173,320
per annum, reflecting £7.00 per sq ft.
• Unit B is let to IKEA Limited, on an FRI lease expiring on 24 June 2025, at
a passing rent of £311,138 per annum, reflecting £6.43 per sq ft.
• Total rent receivable will therefore be £484,458 per annum, reflecting a
low average rent of £6.62 per sq ft.
• Total ERV of £512,659 per annum, reflecting an overall rent of £7.00 per
• Site area of 4.26 acres representing a site density of 38%.
• We are instructed to seek offers in excess of £7,900,000 (Seven Million,
Nine Hundred Thousand Pounds) subject to contract and exclusive of
• A purchase at this level reflects an initial yield of 5.74% and reversionary
yield of 6.00%, after the deduction of purchaser’s costs of 6.67% with a
capital value of £108 psf.