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For Sale£525,000.00

Small unit industrial investment FOR SALE - May Divide

Other, Other Property Types & Opportunities , 6816 Sq Ft
Property type: Other, Other Property Types & Opportunities
Tenure: Investment Opportunity
Size: 6816 Sq Ft
Price: £525,000.00
Location: Bowlers Croft, Basildon, SS14 3DU
Forming part of the Cranes Farm industrial area adjacent the A127 approximately 30 miles from central London. The M25 is approximately 8 miles distant. Basildon train station C2c is approximately 3.5 miles away linking with London (Fenchurch Street) in approximately 33 minutes.

The property
A terrace of three industrial/warehouse units, to be let as follows:

Unit 7 Fibre Sports

Unit 9 Basildon Ballet Co/Sapphire School of Dance

Unit 9a Fast Food Ltd

Unit 11 Holland Park Boxing Gym

Total yearly exclusive rent - £35,100pax
Estimated ERV - £47,700pax

It is proposed that the tenants will sign full repairing and insuring leases for 5 years outside the Landlord & Tenant Act. Upward only rent review on expiry of 2 years 6 months. The Management charge is payable by the tenants. The rent is payable monthly in advance by Direct Debit. Units 7 & 11 are to incorporate a mutual break option at year 2.5, subject to 6 months prior notice.

Accommodation Measured in accordance with the RICS Code of Measuring Guide the approximate gross internal floor area is:
Unit 7 2,184 sq ft 203 sq m
Unit 9 1,325 sq ft 123 sq m
Unit 9a 1,128 sq ft 104 sq m
Unit 11 2,179 sq ft 202 sq m

Business rates
Interested parties are advised to contact Basildon District Council Business Rates dept. on 01268 533333.

£525,000 is sought for the freehold interest subject to contract and the tenants described above. A purchase at this level reflects a net initial yield of 6.45%, allowing for purchaser’s costs of 3.6%, equating to a very low capital value of £77 per sq ft.

We consider the current rental value of the units to be in the order of £7 per sq ft, equating to a potential rent of £47,700 pax. A rental of this level would provide a reversionary net yield of 8.77%.
Legal Costs
Each party is to be responsible for the payment of their own legal costs.

The EPC ratings are G203/F144/G280 & G158 respectively.

Agent’s Note
All figures quoted are exclusive of Vat (if applicable)
No warranty is given in respect of the current planning use.
None of the amenities or fixtures and fittings have been tested.

Viewing is strictly by prior appointment only. Please contact us on 01708 860696 or email: jb@branchassociates.co.uk
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