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Penclawdd - Freehold Industrial Investment

For sale: £400,000.00|4,429 Sq Ft|Light industrial, Industrial

Property details

FOR SALE£400,000.00
SIZE4,429 Sq Ft
ADDRESSUnit 28, Crofty Industrial Estate, Penclawdd, Swansea SA4 3RS
TYPELight industrial, Industrial
TENUREFor Sale Freehold
POSTED ON30th September 2020

Description

Investment Consideration:
Gross Initial Yield: 3.75%
Rental Income: £15,000 p.a.
VAT is NOT applicable to this property.
Comprises light industrial/manufacturing unit on a site of approximately 2.07 acres (0.84ha).
99 Years Lease. No Break Clause. Tenant in occupation since 1994.
Guarantors to the lease are Leslie A. Parsons & Sons (Burry Port) Limited and Lenger Seafoods Yerseke B.V.
Lenger Seafoods Group is a large seafood operator founded in 1925, that has 250 employees and recently opened a new site in Vietnam.
Rent review every fifth year linked to RPI
Occupiers nearby include Blackhills Caravan Swansea, Crofty Shed Centre, Celtic Oak Flooring, J P Surf Boards, H & S Mouldings.

Property Description:
The property comprises light industrial/manufacturing unit on a site of approximately 2.07 acres (0.84ha) currently used as a shellfish processing plant on a popular industrial estate on the Gower Peninsula. The yard has various wash bays with tanks for external processing equipment.

The property provides the following accommodation and dimensions:
Ground Floor: Production Area - 147.80 sq m (1,591 sq ft)
Ground Floor: Internal Storage - 141.60 sq m (1,524 sq ft)
Ground Floor: External Storage - 54.30 sq m (584 sq ft)
Ground Floor: Mess/Staff room - 67.80 sq m (730 sq ft)
Total area size - 411.50 sq m (4,429 sq ft)

Tenancy:
The property is at present let to Lenger Seafoods for a term of 99 years from 23rd December 2019 at a current rent of £15,000 per annum and the lease contains full repairing and insuring covenants. Rent review every fifth year linked to RPI. No break clause. Guarantors to the Lease are Leslie A. Parsons & Sons (Burry Port) Limited and Lenger Seafoods Yerseke B.V. Tenant has been in occupation since 1994. Lenger Seafoods Group is a large seafood operator, founded in 1925 that has few factories in the UK. The company has 250 employees and recently opened a new site in Vietnam. (www.lengerseafoods.nl)

Location:
Penclawdd is a village which is situated in the north of the Gower Peninsula in the county of Swansea, Wales. It is one of the larger villages on the Gower Peninsula. Part of the village is perched on a high location, enjoying panoramic views over the Loughor estuary and surrounding Gower countryside, while the main part of the village stretches along the edge of the estuary. Occupiers nearby include Blackhills Caravan Swansea, Crofty Shed Centre, Celtic Oak Flooring, J P Surf Boards, H & S Mouldings.

Location

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Location: Unit 28, Crofty Industrial Estate, Penclawdd, Swansea SA4 3RS

Bynea (2.6 miles)

Llanelli (2.9 miles)

Gowerton (3.9 miles)

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