/commercial investment for sale old forge Managed by Peterchurch, Herefordshire, HR2 0SD
old forge To Hereford space 988 2,020 sq ft To Whitney-on-Wye Description Old Forge 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). 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 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 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 james.evans@hallsgb.com 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
Peterchurch, Herefordshire, HR2 0SD Price The asking price is 275,000 (two hundred and seventy five thousand pounds). 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). The asking price reflects a Net Rersionary Yield of 12.41% (based upon the letting of the vacant units at the ERV of 40,700 per annum) after allowing for costs of 1.5%). The asking price reflects a capital value of 27.65 per sq ft. The Average WUT to expiry/break is 0.68 years. VAT All prices and figures are quoted exclusive of VAT. It is understood that the estate is elected for VAT and therefore VAT will be payable on the purchase price. Location Old Forge is situated on the edge of the village of Peterchurch in the heart of the County of Herefordshire. The estate is accessed directly off the. Peterchurch is a village, where all local amenities are available. The village had a population of 1,091 at the census in 2011. The estate is located approximately 13 miles west of the City of Hereford and approximately 21 miles from the town of Leominster. The estate is strategically well positioned to serve the surrounding counties of Shropshire and Mid Wales. Ln Old Forge Hay-on-Wye Road Police Station Lewis Way Bazley Ln Legal Costs Church Rd Hereford Each party will be responsible for their own legal costs incurred in respect of the sale of the property. A44 Leominster A44 A4103 Worcester A438 Old Forge A438 Great Malvern Hereford Ledbury Peterchurch M5 A465 A49 M50 3 Managed by 01925 255525 www.langtreepp.co.uk 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