TYPEDistribution Warehouse, General Industrial, Industrial Park, Retail Park, Warehouse, Industrial, Retail
TENUREUnder Offer, For Sale Freehold
POSTED ON5th October 2020
Description
Multi-Let Industrial Freehold Investment
High Yielding Opportunity with Potential to Add Significant Value. - - Freehold.
- Located within close proximity to the A470, which is the main arterial route connecting J32 of the M4 Motorway at Cardiff to the Heads of the Valleys road (A465). The A465 is nearing completion on a £800m improvement project.
- Well-specified manufacturing and warehouse facility of 176,288 sq ft (16,377 sq m) on a site area of 15.85 acres (6.41 hectares) with a low site cover of 25.53%.
- Let to two high calibre tenants, Avon Engineered Rubber Ltd and SPC Europe Ltd which both collectively provide a compelling occupational story having invested significantly in adapting their fit-out and installing plant equipment to carry out their specialist operations. SPC Europe has installed a new ultra-clean colour rubber compounding plant upon taking occupation.
- WAULT of 8.63 years to expiries (3.96 years to break options) with Avon Rubber having been in occupation in excess of 12 years and both Tenants having invested significantly in adapting their fit-out and installing plant equipment to carry out their specialist manufacturing processes.
- Immediately implementable value-add opportunity to let the existing vacancy of 63,963 sq ft (5,942 sq m).
- Current rent of £337,500 per annum, equating to a low £3.00 per sq ft with prospects to crystallise a significant reversion upon letting the vacant element.
