Investment for sale

LOCATION
Melton is situated to the north east of Woodbridge, a thriving Suffolk market town located on the River Deben, approximately 9 miles north east of the county town of Ipswich, accessed via the A12, within less than one mile to the west.
Melton is within 17 miles of Sizewell Nuclear Power Station and the current construction of Sizewell C will be a major driver to growth in the area, generating employment, supply chain spending, skills development and inward investment.
The property is located in Dock Lane, off Melton Road (B1438). Adjoining occupiers include Coastal Building Supplies, East Green Energy, Melectronics Systems Limited and Seckford Wines.
DESCRIPTION
The property comprises a former single let industrial building which has been successfully sub-divided to create six self-contained units.
The principal building is of steel portal frame construction with brick/blockwork elevations with profile sheet cladding to the upper parts and roof. A mono pitch extension, comprising Unit 6, is also of steel frame construction with profile cladding to the roof, front and side elevations. The single storey offices, comprising Unit 5, are of masonry construction under a flat roof and include a link through to a pre-fabricated building offering further office accommodation.
The internal dividing walls between the industrial units are generally of blockwork construction and the general specification includes LED/fluorescent lighting, warm air blowers, ancillary offices, toilet facilities and powered shutter doors.
The office accommodation comprising Unit 5 is divided into nine individual rooms together with kitchen and toilet facilities, the specification including UPVC windows, LED lighting, carpets/laminate flooring and air conditioning.
An extensive surfaced forecourt and yard provides parking and loading facilities.
ACCOMMODATION
The property provides the following approximate floor areas:
Unit 1 3,035 sq ft [282.00 sq m]
Unit 2 1,943 sq ft [180.53 sq m]
Unit 3 4,140 sq ft [384.59 sq m]
Unit 4 2,343 sq ft [217.70 sq m]
Unit 5 2,549 sq ft [236.76 sq m]
Unit 6 2,678 sq ft [248.81 sq m]
Total gross internal floor area 16,688 sq ft [1,550.39 sq m]
The net internal floor area of Unit 5 is 2,072 sq ft [192.47 sq m].
The average eaves height of the main building is 5.15m, the apex being 6.66m.
TENANCIES
The property is let on 6 individual leases and the total passing passing rent is £153,750 p.a.x
Further details are provided within the sales particulars.
SERVICES
It is understood that the property is connected to mains electricity, water and drainage.
We have not tested any of the services and all interested parties should rely upon their own enquiries with the relevant utility companies in connection with the availability and capacity of all those serving the property including IT and telecommunications.
The property is served by a single electricity supply with sub meters to each unit.
ENERGY PERFORMANCE CERTIFICATES
Details of the EPC ratings are provided within the sales particulars.
LOCAL AUTHORITY
East Suffolk Council
East Coast House
Station Road
Melton
Woodbridge
Suffolk, IP12 1RT
Telephone: 01394 383789
PROPOSAL
Offers are invited in the region of £1,900,000 for the freehold interest, equating to a net initial yield of 7.57% assuming purchasers costs of 6.95%.
VAT
The property is VAT elected although the sale may be eligible to be treated as a Transfer of a Going Concern.
LEGAL COSTS
Each party to be responsible for their own legal costs incurred during the course of the transaction.
ANTI-MONEY LAUNDERING REGULATIONS (AMLR)
Anti-Money Laundering Regulations require Fenn Wright to verify the identity, private residence and source of funds (where applicable) of prospective purchasers prior to solicitors being instructed. An administration fee is payable, and further details are available upon request.