old forge Industrial Estate
Industrial/commercial investment for sale
old forge Industrial Estate
Managed by
Peterchurch, Herefordshire, HR2 0SD
old forge
Industrial Estate Description To Whitney-on-Wye
Industrial space 988–2,020 sq ft
Old Forge Industrial Estate comprises of a commercial estate that was built approximately 25 years ago. The estate comprises of six commercial units. The estate provides two detached blocks of three commercial buildings which are divided to comprise of units 5, 6 and 7 and the other block comprising of units 8, 9 and 10. The buildings are of steel portal framework with part dual pitched profile sheet and part monopitched roof covers with the elevations benefiting from brickwork elevations. The units benefit from an eaves height of approximately 4.5 metres to the main structures. The units provide accommodation ranging in size from 988 sq ft (91.77 m sq) to 2,020 sq ft (187.64 m sq). The Current Total Accommodation is approximately 9,041 sq ft (839.85 m sq).
B4348
To Hereford
The estate benefits from a total site area of approximately 1.23 acres (0.498 hectares). The external areas provide a generous provision of on site car parking and landscaped areas. There is potential for the construction of further units within the estate, subject to the receipt of any relevant statutory consents. The car parking area serving the estate is significant in size and lends itself to further development by any purchaser.
Planning Old Forge Industrial Estate benefits from planning consent for Use Class B1,B2 and B8 of The Town and Country Use Classes Order 1987. The estate is a designated employment area. There may be potential for Further Asset Management Opportunities within the Estate by the construction of further units, subject to the obtaining of the relevant statutory consents.
Inspection Strictly by appointment through Halls Commercial, Halls Holdings House, Bowmen Way, Battlefield, Shrewsbury, Shropshire, SY4 3DR Tel 01743 450700 reference James Evans email [email protected]
Site The Total Site Area; 1.23 acres (0.498 hectares) The property is held under Property Title Number: HW120972
Energy Performance Certificates The energy performance certificates for the units are as follows: Unit 5 – G153 Unit 6 – D96 Unit 7 – E116 Unit 8 – E122 Unit 9 – G156 Unit 10 – F128 Units 5, 9 and 10 will be upgraded to an E rating prior to completion.
Investment Summary The estate offers the opportunity to acquire a well maintained commercial estate in the sought after County of Herefordshire. There is an opportunity of further asset management by the construction of further units within the land ownership, subject to the receipt of the relevant statutory consents. A purchase of the estate at the asking price reflects a low capital value of approximately £27.65 per sq ft. The continued asset management of the estate to the estimated rental value of £31,500 per annum and a return on investment of 12.41% after allowing for normal purchasers costs. The estate is fully occupied and there is therefore potential demand for the construction of further units on the accommodation land held in the property ownership and offering asset management opportunities.
Tenancy Schedule The freehold interest in the estate (Title Number HW120972) is offered for sale subject to the following occupational tenancies; Unit No.
Sq ft
Occupier
Unit Status
Passing Rent
Vacant Rental (pa)
Per sq ft
Lease Start
Lease End
5
988
Jon Stroud
Current
£4,199
–
£4.25
22/09/15
21/09/18
6
1,013
T Shirt Hut Limited
Current
£3,800
–
£3.75
21/06/13
20/06/16
7
1,001
Kaytan Ltd
Current
£3,600
–
£3.60
01/03/14
28/02/17
8
2,010
John William Slough T/A John Slough of London
Current
£6,700
–
£3.33
01/12/12
30/11/15
9
2,009
JSL Events Limited
Current
£3,355
–
£1.67
25/06/13
24/06/16
10
2,020
Splitlath Motorsports Limited
Current
£6,700
–
£3.31
29/12/14
28/12/17
Total
9,041
£28,354
£0,00
A53
A50 A500HR2 0SD Peterchurch, Herefordshire, 16
A520
Stoke-on-Trent
A51 A525
Longton
15
A53
A34
A495 Loggerheads
Price
Old Forge Industrial Estate is situated on the edge of the village of Peterchurch in the heart of the County of Herefordshire. A5 The estate is accessed directlyA53 off the B4348.
The asking price equates to a Net Initial Yield of 10.28% (after allowing for costs of 1.5% based upon the current rent net income of £26,099 per annum).
14
Newport
A518
M6
A518Gnosall
A
Shrewbury
nt
The asking price reflects a capital value of £27.65 per sq ft.
The estate is located approximately 13 miles west of the City of Wheaton Hereford and approximately 21 miles from the townM54 of Leominster. Telford Aston
12
3
Hay-on-Wye
The estate is strategically well positioned to serve the surrounding A458 counties of Shropshire and Mid Wales.
2
Chap
8
Bridgnorth
Church Stretton
el Ln
A449 Dudley
Old Forge Industrial Estate
2
A49
M5
A442
Craven Arms
Ha y-o
All prices and figures are quoted exclusive of VAT.
Kidderminster
4
wi
ye
Le
n-W
sW
Ro
Ludlow
ay
ad
It is understood that the estate is elected for VAT and therefore VAT will be payable on the purchase price.
B4348
Ba
zle
y
Ln
A449
M5
Police Station
Legal Costs
Ch
Each party will be responsible for their own legal costs incurred in respect of the sale of the property.
ur
ch
Rd
Hereford
A44
A44
Leominster
Worcester
A4103 Great Malvern
Old Forge Industrial A438 Estate
A438
Ledbury
Hereford
M5
B4348 Peterchurch
A465
A479
A49
M50 3
Cheltenham
Ross-on-Wye Crickhowell
A4137
Gloucester
Abergavenny
A40 A4042
www.langtreepp.co.uk
9
A454
VAT
01925 255525
1
Wolverhampton
B4348
The Average WUT to expiry/break is 0.68 years.
Managed by
A5
Stafford
Peterchurch is a village, where all local amenities are available. The village had a population of 1,091 at the census in 2011.
A483
The asking price reflects a Net Rersionary Welshpool Yield of 12.41% (based upon the letting of the vacant units at the ERV of £40,700 pers Head g annum) after allowing for costs of 1.5%).on Na Hi
Stone
Location
Oswestry
The asking price is £275,000 (two hundred and seventy five thousand pounds).
A
Newcastle-under-Lyme
www.langtreepp.co.uk/property/ old-forge-industrial-estate The Agents for themselves and for the Sellor/Lessor of this property who agents they are give notice that: 1. These particulars do not constitute any part of an offer or a contract. 2. All statements contained in these particulars are made without responsibility on the part of the Agent(s) or the Seller/Lessor. 3. None of the statements contained in these particulars is to be relied upon as a statement or representation of fact. 4. Any intending Buyer or Tenant must satisfy himself by inspection or otherwise as to the correctness of each of the statements contained in these particulars. 5. The Seller/Landlord does not make or give and neither the Agent(s) nor any person in their employment has any authority to make or give any representation or warranty whatever in relation to this property. May 2016. Designed by Future 01925 638 581 www.designbyfuture.co.uk
R
old forge Industrial Estate
Managed by
Peterchurch, Herefordshire, HR2 0SD
old forge
Industrial Estate Description To Whitney-on-Wye
Industrial space 988–2,020 sq ft
Old Forge Industrial Estate comprises of a commercial estate that was built approximately 25 years ago. The estate comprises of six commercial units. The estate provides two detached blocks of three commercial buildings which are divided to comprise of units 5, 6 and 7 and the other block comprising of units 8, 9 and 10. The buildings are of steel portal framework with part dual pitched profile sheet and part monopitched roof covers with the elevations benefiting from brickwork elevations. The units benefit from an eaves height of approximately 4.5 metres to the main structures. The units provide accommodation ranging in size from 988 sq ft (91.77 m sq) to 2,020 sq ft (187.64 m sq). The Current Total Accommodation is approximately 9,041 sq ft (839.85 m sq).
B4348
To Hereford
The estate benefits from a total site area of approximately 1.23 acres (0.498 hectares). The external areas provide a generous provision of on site car parking and landscaped areas. There is potential for the construction of further units within the estate, subject to the receipt of any relevant statutory consents. The car parking area serving the estate is significant in size and lends itself to further development by any purchaser.
Planning Old Forge Industrial Estate benefits from planning consent for Use Class B1,B2 and B8 of The Town and Country Use Classes Order 1987. The estate is a designated employment area. There may be potential for Further Asset Management Opportunities within the Estate by the construction of further units, subject to the obtaining of the relevant statutory consents.
Inspection Strictly by appointment through Halls Commercial, Halls Holdings House, Bowmen Way, Battlefield, Shrewsbury, Shropshire, SY4 3DR Tel 01743 450700 reference James Evans email [email protected]
Site The Total Site Area; 1.23 acres (0.498 hectares) The property is held under Property Title Number: HW120972
Energy Performance Certificates The energy performance certificates for the units are as follows: Unit 5 – G153 Unit 6 – D96 Unit 7 – E116 Unit 8 – E122 Unit 9 – G156 Unit 10 – F128 Units 5, 9 and 10 will be upgraded to an E rating prior to completion.
Investment Summary The estate offers the opportunity to acquire a well maintained commercial estate in the sought after County of Herefordshire. There is an opportunity of further asset management by the construction of further units within the land ownership, subject to the receipt of the relevant statutory consents. A purchase of the estate at the asking price reflects a low capital value of approximately £27.65 per sq ft. The continued asset management of the estate to the estimated rental value of £31,500 per annum and a return on investment of 12.41% after allowing for normal purchasers costs. The estate is fully occupied and there is therefore potential demand for the construction of further units on the accommodation land held in the property ownership and offering asset management opportunities.
Tenancy Schedule The freehold interest in the estate (Title Number HW120972) is offered for sale subject to the following occupational tenancies; Unit No.
Sq ft
Occupier
Unit Status
Passing Rent
Vacant Rental (pa)
Per sq ft
Lease Start
Lease End
5
988
Jon Stroud
Current
£4,199
–
£4.25
22/09/15
21/09/18
6
1,013
T Shirt Hut Limited
Current
£3,800
–
£3.75
21/06/13
20/06/16
7
1,001
Kaytan Ltd
Current
£3,600
–
£3.60
01/03/14
28/02/17
8
2,010
John William Slough T/A John Slough of London
Current
£6,700
–
£3.33
01/12/12
30/11/15
9
2,009
JSL Events Limited
Current
£3,355
–
£1.67
25/06/13
24/06/16
10
2,020
Splitlath Motorsports Limited
Current
£6,700
–
£3.31
29/12/14
28/12/17
Total
9,041
£28,354
£0,00
A53
A50 A500HR2 0SD Peterchurch, Herefordshire, 16
A520
Stoke-on-Trent
A51 A525
Longton
15
A53
A34
A495 Loggerheads
Price
Old Forge Industrial Estate is situated on the edge of the village of Peterchurch in the heart of the County of Herefordshire. A5 The estate is accessed directlyA53 off the B4348.
The asking price equates to a Net Initial Yield of 10.28% (after allowing for costs of 1.5% based upon the current rent net income of £26,099 per annum).
14
Newport
A518
M6
A518Gnosall
A
Shrewbury
nt
The asking price reflects a capital value of £27.65 per sq ft.
The estate is located approximately 13 miles west of the City of Wheaton Hereford and approximately 21 miles from the townM54 of Leominster. Telford Aston
12
3
Hay-on-Wye
The estate is strategically well positioned to serve the surrounding A458 counties of Shropshire and Mid Wales.
2
Chap
8
Bridgnorth
Church Stretton
el Ln
A449 Dudley
Old Forge Industrial Estate
2
A49
M5
A442
Craven Arms
Ha y-o
All prices and figures are quoted exclusive of VAT.
Kidderminster
4
wi
ye
Le
n-W
sW
Ro
Ludlow
ay
ad
It is understood that the estate is elected for VAT and therefore VAT will be payable on the purchase price.
B4348
Ba
zle
y
Ln
A449
M5
Police Station
Legal Costs
Ch
Each party will be responsible for their own legal costs incurred in respect of the sale of the property.
ur
ch
Rd
Hereford
A44
A44
Leominster
Worcester
A4103 Great Malvern
Old Forge Industrial A438 Estate
A438
Ledbury
Hereford
M5
B4348 Peterchurch
A465
A479
A49
M50 3
Cheltenham
Ross-on-Wye Crickhowell
A4137
Gloucester
Abergavenny
A40 A4042
www.langtreepp.co.uk
9
A454
VAT
01925 255525
1
Wolverhampton
B4348
The Average WUT to expiry/break is 0.68 years.
Managed by
A5
Stafford
Peterchurch is a village, where all local amenities are available. The village had a population of 1,091 at the census in 2011.
A483
The asking price reflects a Net Rersionary Welshpool Yield of 12.41% (based upon the letting of the vacant units at the ERV of £40,700 pers Head g annum) after allowing for costs of 1.5%).on Na Hi
Stone
Location
Oswestry
The asking price is £275,000 (two hundred and seventy five thousand pounds).
A
Newcastle-under-Lyme
www.langtreepp.co.uk/property/ old-forge-industrial-estate The Agents for themselves and for the Sellor/Lessor of this property who agents they are give notice that: 1. These particulars do not constitute any part of an offer or a contract. 2. All statements contained in these particulars are made without responsibility on the part of the Agent(s) or the Seller/Lessor. 3. None of the statements contained in these particulars is to be relied upon as a statement or representation of fact. 4. Any intending Buyer or Tenant must satisfy himself by inspection or otherwise as to the correctness of each of the statements contained in these particulars. 5. The Seller/Landlord does not make or give and neither the Agent(s) nor any person in their employment has any authority to make or give any representation or warranty whatever in relation to this property. May 2016. Designed by Future 01925 638 581 www.designbyfuture.co.uk
R
