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Common Lane, Watnall, Nottingham NG16 1HD

For sale: £310,000.00|2,803 Sq Ft|Industrial, Office, Warehouse, General Industrial, Industrial Park, Light Industrial, Storage, Offices

Property details

FOR SALE£310,000.00
SIZE2,803 Sq Ft
ADDRESSCommon Lane, Watnall, Nottingham NG16 1HD
TYPEIndustrial, Office, Warehouse, General Industrial, Industrial Park, Light Industrial, Storage, Offices
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON3rd August 2022

Description

Industrial Investment. Detached industrial unit with yard & integral office block.
• 260.38 sq m (2,803 sq ft)
• Detached unit with yard
• Sought after location offering access to Nottingham and J26 of the M1
• Leased until July 2025
• Rent passing £19,000 per annum
• Rent review July 2023

LOCATION:
The property is located on the popular and established New Line Road Industrial Estate in Watnall.

The location is approximately 5 miles from central Nottingham and 1 mile from the M1 (J26) at its intersection with the A610 trunk road.

Other occupiers in the vicinity include the Hovis bakery, Aero Fabrications, TLC Electrical Distributers and the DVSA driving test centre.

DESCRIPTION:
The property comprises a single storey brick built industrial / warehouse unit set within a fenced and gated compound. The site extends to approx. 0.27 acres.

The property has an integral office block and a gross internal area of 2,803 sq ft - of which the office section extends to approximately 38.15 sq m (411 sq ft).

ACCOMMODATION: (GIA)
Warehouse: 222.23 sq m (2,392 sq ft)
GF Office Block: 38.15 sq m (411 sq ft)
TOTAL: 260.38 sq m (2,803 sq ft)

LEASE:
The property is occupied by Linby Vans Ltd (Company No. 11534314) by way of a 5 year lease from July 2020 at a passing rent of £19,000 per annum.

There is a rent review in July 2023, the tenant has a break option at the end of the third year.

Linby Vans Ltd has an Experian credit score of 77 (‘below average risk’). In addition, there is a personal guarantee.

TENURE:
Freehold subject to the existing tenancy.

PRICE:
The property is available to purchase at a price of:- £310,000

A purchase at this level will show an initial yield of approximately 6% prior to any impact of the 2023 rent review.

RIGHT OF WAY:
We understand there is a right of way from the entrance gate to the property situated immediately to the rear. Further guidance on application.

EPC:
C - 74

VAT:
Vat is not applicable to the purchase price.

VIEWINGS:
For viewings or further information, please contact the sole agent on the brochure.

Location

marker
Location: Common Lane, Watnall, Nottingham NG16 1HD

Bulwell (2.2 miles)

Hucknall (3.2 miles)

Langley Mill (3.5 miles)

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