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For Sale£1,750,000.00

Units A1-A3 Kingfisher Way, Exeter, EX2 7NW

General Industrial, Industrial , 23138 Sq Ft
Property type: General Industrial, Industrial
Tenure: For Sale Freehold
Size: 23138 Sq Ft
Price: £1,750,000.00
Location: Units A1-A3 Kingfisher Way, Units A1-A3 Kingfisher Way, Sowton Industrial Estate, Exeter, EX2 7NW

Single Let Industrial Investment



Location

Sowton Industrial Estate has established itself as the main distribution location for the city. The estate is easily accessed from Junctions 29 and 30 of the M5 motorway, giving easy access throughout the south west region. The units are accessed from Kingfisher Way, which links into one of the main arterial roads through the estate. Nearby occupiers on the estate include Howdens, Jewsons, Travis Perkins and Brandon Tool Hire.



  • Situated on the established Sowton Industrial Estate.
  • Strategic location with easy access to Junctions 29 and 30 of the M5 Motorway.
  • Single let industrial warehouse totalling 23,138 sq ft GIA and capable of subdivision.
  • Let to Smiths News Trading Limited (D&B 5A1) by way of a 10 year FRI lease until 18th December 2026.
  • Freehold.
  • Low base rent of only £120,472 per annum (£5.21 psf) with strong growth prospects.
  • Offers are sought in excess of £1,750,000 (One Million, Seven Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT.
  • A purchase at this level would reflect a net initial yield of 6.48%, and reversionary yield of 7.16% based upon our ERV, after purchaser’s costs at 6.20%.
  • Low capital value of £75.63 per sq ft.
  • The property comprises a terrace of three industrial units constructed in the mid 1980’s. The units are of steel portal frame construction, with profile metal sheet elevations and roofs. Each unit has an eaves height of approximately 5.1m (16’9 ft) and extensive yard areas to the front. Internally, Units 1 & 2 incorporate office accommodation which is carpeted throughout, with blockwork walls and suspended ceilings. The warehouse accommodation has concrete flooring, painted blockwork elevations to 7ft and is accessed via roller shutter doors. Unit 3, provides further warehousing and staff canteen/WC facilities. Two additional areas of parking totalling 20 spaces is included within the demise, situated on the opposite side of Kingfisher Way.

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