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Oldmixon Crescent Weston-Super-Mare, BS24 9AX

30832 sq ft Industrial

Sale

WELL SECURED SOUTH WEST INDUSTRIAL INVESTMENT OPPORTUNITY

Key points

  • Unique opportunity to acquire a self-contained, well secured industrial unit located in Weston-super-Mare.
  • 30,832 sq ft (2,865 sq m) including an office content of 31%.
  • Total site area of approximately 2.14 acres, with a very low site coverage of 27%.
  • Let to Praxair Surface Technologies Ltd, an international materials manufacturer, who are rated by D&B as ‘lower than average risk’.
  • Reversionary lease agreed on 1st January 2016 which expires on 28th September 2028, providing a total unexpired term certain of 7.63 years. The tenant has shown interest to extend their term beyond the current expiry date.
  • The passing rent of £140,000 per annum equates to £4.54 per sq ft. There is an open market review on 1st January 2026.
  • The unit is critical to the tenant’s business, having invested substantially into the unit and the operations on-site. The recent reversionary lease agreement further illustrates their commitment to the facility.
  • Offers are sought in excess of £2,300,000 (Two Million Three Hundred Thousand Pounds), Subject to Contract and exclusive of VAT.
  • A purchase at this level equates to an attractive Net Initial Yield of 5.72%, assuming purchaser’s costs of 6.34%, and a low capital value of £75 per sq ft.

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