Commercial Property for sale

FREEHOLD INVESTMENT - Ridgeway Trading Estate is a fully let income producing small unit industrial estate located at Astwood Bank on the outskirts of Redditch, Worcestershire. Asking Price £1,100,000.
DESCRIPTION
The property is on a self-contained Freehold site, comprising of five units totalling 5,375 square feet. The units are modern, well insulated, steel portal framed industrial buildings, fronting a private access yard & car park. The premises have recently been refurbished to a high standard throughout and benefit from roller shutter access, lighting and WC accommodation.
INVESTMENT PROPOSAL
We are instructed to seek offers of £1,100,000 based on a net initial yield of 6.46% assuming purchasing costs of 5.85% with reversionary yield of 7.00%.
LOCAL DEMAND
Small units are in high demand locally and these type of units fill a much needed gap in the market between self-store units and traditional industrial units, three of the tenants (Units A, C & E) have recently renewed their leases for further 5 year terms and the remaining two units (Unit B & D) have leases expiring in May 2027 & March 2028. The units are attractive for small businesses as they qualify for either full business rates relief or small business rates taper relief under the new 2026 VOA re-valuation.
CAR PARKING
Ample parking is available within the fenced and gated secure site.
EPC'S
EPC's range from A-C all meeting the required revised standard coming into effect in 2027.
REPAIRING OBLIGATION
All leases are effective full repairing, with any roof repairs dealt with by way of a service charge. There are no schedules of condition attached to the leases.
TENURE
Freehold.
LEGAL COSTS
Each party is to bear their own legal costs.
VAT
Is applicable on the sale price however it is likely that the sale will be treated as a TOGC (Transfer of a going concern) meaning VAT is not payable by the purchaser subject to them meeting the HMRC guidelines. Any purchasers should take advice from their accountants and solicitors and satisfy
themselves of their VAT situation prior to placing an offer to purchase the property.
VIEWINGS:
Units are tenanted so internal viewings are by appointment only with the agents office.
- Fully Let - Freehold Investment
- NIY 6.45 % - Reversionary Yield of 7.00%
- 3 Tenants Recently Renewed for 5 Year Terms
- ERV (Estimated Rental Value) over £81,921 pa
- High Tenant Demand for Small Units Locally
- Units Qualify for Zero or Taper Rates Relief
- EPC's at A-C Ratings
- 8.2 Miles to M42 Junction 2
- Tenants Have Repairing Obligations
- NO VAT Payable on Purchase - TOGC If Buyers Qualify