About the Property
The property extends to 13,307 sq ft and is of steel portal frame construction face with brickwork. The unit is separated into two parallel units extending to 7,832 sq ft (including first floor) and 5,475 sq ft. There are two ground level loading doors on the northern elevation which fronts onto a large yard area and car park.
As both units are let to trade occupiers; Hire Station (Brandon Hire) and Euro Car Parts, each unit has a customer entrance door, with the Hire Station (Brandon Hire) entrance being on the northern elevation and the Euro Car Parts entrance being on the eastern side elevation. Both units have an additional storage yard and parking area.
Internally, both units have a trade counter area, together with storage and offices elements to the rear.
- Prominently located trade units on an established estate
- Located just off the A180, close to Grimsby Port
- Long Leasehold with 146 years remaining at a ground rent of £8,000 pa
- 13,307 sq ft (1,236 sq m)
- Let to Euro Car Parts Ltd and Hire Station Ltd with an AWULT of 6.29 years to expiries
- Passing rent of £69,000 (£5.19 psf) which nets to £61,000 pa after deduction of the ground rent.
- Offers are sought in excess of £850,000 reflecting a Net Initial Yield of 6.80% and a capital value of £64 per sq ft assuming purchase costs of 5.56%
As both units are let to trade occupiers; Hire Station (Brandon Hire) and Euro Car Parts, each unit has a customer entrance door, with the Hire Station (Brandon Hire) entrance being on the northern elevation and the Euro Car Parts entrance being on the eastern side elevation. Both units have an additional storage yard and parking area.
Internally, both units have a trade counter area, together with storage and offices elements to the rear.
- Prominently located trade units on an established estate
- Located just off the A180, close to Grimsby Port
- Long Leasehold with 146 years remaining at a ground rent of £8,000 pa
- 13,307 sq ft (1,236 sq m)
- Let to Euro Car Parts Ltd and Hire Station Ltd with an AWULT of 6.29 years to expiries
- Passing rent of £69,000 (£5.19 psf) which nets to £61,000 pa after deduction of the ground rent.
- Offers are sought in excess of £850,000 reflecting a Net Initial Yield of 6.80% and a capital value of £64 per sq ft assuming purchase costs of 5.56%