Industrial for sale

SINGLE LET INDUSTRIAL INVESTMENT FOR SALE
Mid-Terrace Workshop Unit With Secure Forecourt & Extensive Rear Yard
Unit of Unit Of 19,980 Sq.Ft. (1,856 sq.m.) On 1.13 ac. (0.46 ha.)
Investment Currently Generating £75,000 pa.
Fixed Rental Uplifts to £80,000 pa. March 2027
Offers Invited Of c. £995,000. (NIY 7.42%)
Location (SA12 7BR)
The property is situated close to the Baglan Energy Park and Baglan Industrial Estate which are located between Junctions 41 and 42 of the M4 motorway, via the A48 and the ‘Travelodge’ junction and the A4241 Afan Way.
Access to the unit is via Central Avenue and Sirius Drive, which links to the main A48 (M) and Junction 41 of the M4 approximately 1½ miles to the north east. The property is within a parade of units which also include Manderwood, and Andrew Scott. Its location is indicated on the plan below.
Description
The property comprises a mid-terrace industrial unit also benefitting from the following:
• 2x steel portal frame bays with capacity to support craneage;
• Double-pitched insulated roof with min. eaves height of 6.4m.;
• Solid concrete slab workshop floor;
• Vehicular access via 2x. large electrically-operated roller shutter doors (6.0m. (h) x and 5.2m. (w.));
• Office/wc. accommodation;
• Secure fenced forecourt/car-parking.
Accommodation (Gross Site Area)
Main Workshop 19,980 Sq.Ft.
Inc. Office/Amenities. 739 Sq.Ft.
Plus Rear Yard 0.54 ac.
Mains Services
Mains services, inc. 3 phase electricity is available.
Solar Panels
The property also benefits from the provision of solar panels on the roof of the property for which the property owner will benefit from additional FIT payments.
The solar panels are available to purchase separately for £100,000.
User
The unit is suitable for uses within B1, B2, and B8 uses.
Business Rates (2023)
The property has a Ratable Value (2023) - £59,500.
Rates Payable (2024/25) - £33,439 pa.
Energy Performance Certificate (EPC)
The property has an EPC rating of 74 – Band ‘C’.
Tenure
The property is held by way of a 999 year lease from 1989 at a peppercorn rent – further information is available on request.
Occupancy
The property is held by way of a 10 year term from March 2021 to MM Engineered Solutions Ltd.
The current rent passing is £75,000 pa. (£3.75 psf.) which is due to increase in March 2027 to £80,000 pa. (£4.00 psf.), and £85,000 pa. (£4.25 psf.) in the final year of the term.
There is a tenants-only option to break after the first 6 years of the term (March 2027) upon giving not less than 12 months prior written notice. If served the rent will increase to £85,000 pa. (£4.25 psf.) in the 12 months from March 2026.
MM Engineered Solutions Ltd.
The tenants are MM Engineered Solutions Ltd. who provide specialist flood defence products. The company was established in 2016 (company number 10148554). www.mmengineering.co.uk
Terms
Offers are invited for this investment in the region of £995,000
Using an average rent of £78,571 pa. (on the assumption that the break option after year 6 is not served) this represents a Net Initial Yield of 7.42% using purchasers costs of 5.78%.
Legal Costs
Each party are to be responsible for their own legal costs incurred in this matter.
VAT
All figures quoted are exclusive of VAT.
Viewing
For further information or to arrange an inspection please contact the sole agents: