Bala - Bala Industrial Estate, LL23 7NL Multi-let Industrial Estate

Transcription

1 , LL23 7NL Multi-let Industrial Estate

2 1 Investment Summary Multi-let estate comprising 9 units, providing a total of 19,549 sq ft (1,831 sq m) Unit sizes ranging from 752 sq ft to 4,553 sq ft The dominant industrial estate in Bala Annual rent of 34,500 per annum Opportunities to add value through active asset management Offers in excess of 585,000 (five hundred and eighty five thousand pounds) subject to contract and exclusive of VAT for our client s freehold interest. A purchase at this level reflects a capital value of 30 psf and a potential reversionary yield at 11.45% assuming full costs of purchase at 5.01%

3 2 Location Anglesey Bangor Caernafon A470 Rhyl Mold A55 Wrexham Chester Bala is located in the county of Gwynedd in North Wales and stands on the A494 at its junction with the A4212. Nearby towns include Porthmadog and Wrexham lying 22 miles west and 28 miles north-east respectively. The nearest access to the national Motorway network is north east at junction 15 of the M56. Bala, in addition to being the commercial centre and market town for the surrounding area, is a popular holiday, visitor, outdoor pursuits and water sports destination renowned for its lake (Llyn Tegid) and its impressive surroundings within the Snowdonia National Park. Pwllheli Porthmadog A487 Penrhyndeudraeth Dolgellau Aberystwyth A458 A44 Llandrindod Wells Bala Machynlleth Newtown Oswestry A483 Welshpool Ludlow Leominster M5 Cardigan Fishguard Carmarthen Haverfordwest A40 Llandeilo Buith Wells Brecon Hereford Hereford M50 Tenby Llanelli Swansea Ammanford Neath Merthyr Tydfil Port Talbot Newport M5 M4 Cardiff Bristol M4 Bristol

4 3 N Situation The subject property is situated in an established industrial estate, Bala Enterprise Park, a short distance to the east of Bala centre. The surrounding area to the estate comprises residential and retail uses. The estate is accessed from the B4391 to the west. Local occupiers on the estate include Travis Perkins, Honda (D H Jones) and Saracens Tyres. Gorsedd Circle Description Units 1-4 comprise a terrace of equally sized industrial units at the front of the estate with clear visibility to the B4391 and the A494. There is secure parking and a service area to the front of the units. Unit 8 forms the end of a separate terrace and 9-12 comprise a further terrace of units. All the units are of steel portal frame construction with brickwork and blockwork walls with high level profile cladding. Flooring is in-situ concrete with a pitched metal profile sheet roof above. Windows are metal framed and single glazed. Lighting is provided by way of surface mounted fluorescent strips. Units 15 and 16 comprise two adjoining modern business units each with their own frontage and parking with a large common service yard to the rear. Both units are of steel portal framed construction with brick elevations under pitch profile steel roofing. The units provide reception areas with general office space as well as staff facilities. Servicing access to the properties is provided by way of roller shutter loading doors from the rear service yards. B Tenure The property is held freehold. Site The site in total extends to approximately 3 acres (1.21 hectares). Plan is for identification purposes only Bala Industrial Estate

5 4 Accommodation The property has been measured on a Gross Internal Area (GIA) basis in accordance with the 6th edition of the RICS Code of Measuring Practice. The total area extends to 19,549 sq ft (1,831sq m). A breakdown of the areas can be found in the Tenancy Schedule overleaf. Service Charge The common areas of the estate are maintained by the Landlord, the costs of which are recovered through the Service Charge. The current average budget is approximately 0.62 per sq ft. Further information is available upon request.

6 5 Tenancy The property currently produces 34,500 per annum, reflecting a rental range of between 4.25 per sq ft and 5.89 per sq ft. Unit Tenant Area (sq ft) Area (sq m) Lease Start Lease Expiry Break Option Annual Rent ( ) Rent PSF ( ) Comment Unit 1 Vacant 1, Unit 2 Vacant 1, Unit 3 Vacant 1, Unit 4 Scanwel Ltd 1, Apr Mar-17 8, Unit is let on an IRI lease Unit 8 Royal Mail Group plc 2, Dec Dec Dec-18 12, Unit 9 Vacant Units Natural Resource Body for Wales 2, Mar Mar-18 13, Unit 15 Vacant 4, Unit 16 Vacant 3, Sub Station Mersey & North Wales Elec Apr Apr TOTAL 19,549 1,831 34,500 * Vendor to top-up stepped rents as well as rent free periods to headline rentals

7 6 EPCs Energy performance certificates available upon request. VAT We understand the property is elected for VAT. We envisage that the sale can be treated as a transfer of a going concern (TOGC). Asset Management Opportunities Sell the units individually - either to local investors or owner occupiers Re-gear current leases Let vacant units Proposal We are instructed to seek offers in excess of 585,000 (five hundred and eighty five thousand pounds) subject to contract and exclusive of VAT for our client s freehold interest. A purchase at this level reflects a capital value of 30 psf and a potential reversionary yield at 11.45% assuming full costs of purchase at 5.01%

8 For further information or to arrange an inspection, please do not hesitate to contact: Sophia House, 28 Cathedral Road, Cardiff CF11 9LJ James Sanders +44 (0) (0) Daniel Evans +44 (0) (0) Misrepresentation Clause Ltd acting for themselves and for the vendors or lessors of this property whose sole agents they are give notice that: (i) The particulars are set out as a general outline for the guidance of the purchasers and do not constitute part of an offer or contract; (ii) All descriptions, dimensions, references to condition and necessary permissions for use and occupation and other details are given without responsibility and any intending purchasers should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them. (iii) No person in the employment of Ltd has any authority to make or give any representation or warranty whatever in relation to this property. (iv) All rentals and prices are quoted exclusive of VAT. (v) All plans and maps provided with the particulars are for identification purposes only.