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Heathfield Industrial Estate, Heathfield Street, Elland, HX5 9AE

For sale: £1,500,000.00|16,800 Sq Ft|Distribution Warehouse, General Industrial, Industrial Park, Retail Park, Warehouse, Industrial, Retail

Property details

FOR SALE£1,500,000.00
SIZE16,800 Sq Ft
ADDRESSHeathfield Industrial Estate, Heathfield Street, Elland, HX5 9AE
TYPEDistribution Warehouse, General Industrial, Industrial Park, Retail Park, Warehouse, Industrial, Retail
TENUREInvestment Opportunity
POSTED ON15th May 2024

Description

For Sale - Freehold Multi-let Industrial Estate. - Heathfield Industrial Estate comprises 9 workshop / light industrial units totalling 16,800 sq ft, with units ranging in size from 1,180 sq ft to 3,120 sq ft.

The industrial estate is situated in a popular industrial location in Elland with excellent road communications and within 2 miles of Junction 24 of the M62.

Heathfield Industrial Estate is let to 5 tenants on short term leases providing a total passing rent is £98,060 pa, reflecting an average rent of £7.40 psf. The total ERV is estimated at £152,790 pa, reflecting an average rent of £9.09 psf, and a potential 56% reversion. The WAULT to lease expiry is 0.71 years and to breaks is 0.39 years. The short-term lettings and recent void represent a significant asset management opportunity.

The units are of single storey, steel portal framed construction and benefit from the following specification:
Concrete floors
Brickwork / stone elevations
Profile clad sheeting
Mono-pitched profile metal sheet roof incorporating translucent roof lights
Single ground level loading door to the front elevation
LED / fluorescent strip and sodium lighting
Office accommodation
WC facilities
Shared yard area

We are instructed to seek offers in excess of £1,500,000, subject to contract and exclusive of VAT. A purchase at this level would reflect a very low capital value of £89.29 psf and a reversionary yield of 9.60% based on our opinion of ERV, (assuming usual purchasers’ costs of 6.10%).

Location

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Location: Heathfield Industrial Estate, Heathfield Street, Elland, HX5 9AE

Brighouse (2.3 miles)

Halifax (2.7 miles)

Huddersfield (3.2 miles)

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