DETACHED INDUSTRIAL BUILDING INVESTMENT FOR SALE
Telford Way, Severalls Industrial Park, Colchester, Essex CO4 9QP 01206 577667
Investment Details Prime Industrial Location Adjacent To A12 9,040 sq ft (839.8 sq m) Current Income £58,500pax New 10 Year Lease From 2017 Asking Price - £635,000 (Six Hundred and Thirty Five Thousand Pounds) Reflecting A Net Initial Yield Of 8.75% Having Regard To A Purchasers Costs Of 5.85%
Location & Description Colchester is a major economic centre in north Essex with a resident population of 185,000 people. Severalls Industrial Estate is two miles north of the town centre, immediately adjoining the A12/A120 trunk roads offering excellent communications links to the major road and rail networks. The subject property is situated in the heart of the estate and comprises a detached building over lower ground, ground and first floor levels of brick construction beneath a pitched roof comprising industrial and office accommodation. The property benefits from side loading doors within a secure surfaced yard offering good loading and car parking. Externally, the property stands on a selfcontained site of approximately 0.25 Acres (0.01 Hectares).
According to our calculations, the property has the following Gross Internal Areas (GIA):
The property is let to C3 Imaging Ltd for 10 years from 13/9/2017 to 12/9/2027 incorporating an upward rent review at Year 5 at a passing rent of £58,500 pax +VAT. Rent is payable annually in advance on the anniversary date.
Accommodation Lower Ground Floor (Industrial) Ground Floor (Industrial) First Floor (Offices) Mezzanine Store TOTAL GIA
The property stands on a self-contained site of approximately 0.25 Acres (0.01 Hectares).
We are advised by Colchester Borough Council that the property appears in the Valuation List with a Rateable Value of £41,250.
The lease contains a rolling tenant annual break clause each August subject to 12 month's prior written notice on the anniversary date.
We understand the property benefits from a Light industrial (Class B1) /Warehousing (Class B8) use.
The property is currently elected for VAT (Value Added Tax) which will be chargeable at the prevailing rate.
Each party is to bear their own legal costs incurred throughout any transaction.
Energy Performance Certificate
The property has an energy performance rating of D97. A copy is readily available upon request.
Terms The freehold investment is offered subject to the occupational lease, at an asking price of £635,000 (Six Hundred and Thirty Five Thousand Pounds) reflecting a net initial yield of 8.75% having regard to a purchasers costs of 5.85%.
Viewings Viewings are available strictly by prior appointment with the sole agents, Whybrow. Please contact the below to arrange a viewing or for further information: Ewan Dodds BSc FRICS
T: 01206 809111 M: 07957 862773 E: [email protected]
Li: Ewan Dodds Tw: @ewandodds52
T: 01206 809125 M: 07710 024582 E: [email protected]
Li: John Grace Tw: @whybrowagency
For additional details, please visit our website as below.