Documents
Key facts
| Property Reference Number | 100121238067 |
| Year Built | 1990 |
| Building Area Gross |
|
| Occupancy | 100.0 % |
Property description
- The property has recently been refurbished to accommodate 6 trade units with an additional 2 new retail units. Units 2 - 6 are of a steel portal frame construction with concrete blockwork elevations and profile metal sheet cladding.
- The main units are well maintained and have undergone a recent refurbishment including a new roof, loading doors and windows and a full internal redecoration.
- Each unit benefits from its own forecourt for loading and deliveries with a roller shutter door together with allocated car parking.
Investment highlights
- A well located multi-let trade park situated in close proximity to Cirencester’s ring road.
- 6 refurbished trade counter units with 2 additional new build retail pods.
- The property extends to 23,003 sq ft (2,137 sq m) GIA.
- The site totals 1.39 acres (0.564 ha) reflecting a site coverage of 37%.
- Freehold.
- Attractive WAULT of 9.1 expiry and 5.7 years to break.
- Multi-let to 6 tenants providing a spread of expiries and covenant strengths.
- Asset management potential through letting of vacant unit (subject to rent guarantee).
- Current passing rent of £293,785 per annum.
- Rents equate to an average of £10.74 per sq ft on the Trade Counter element and £28.75 per sq ft on the retail element.
- We are instructed to seek offers in excess of £5,500,000 (Five Million Five Hundred Thousand pounds) subject to contract and exclusive of VAT, reflecting a Net Initial Yield of 5.01% (assuming purchaser’s costs of 6.61%).
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