£800,000

Light industrial for sale

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£800,000

(£78.14/sq. ft)

Light industrial for sale

Ellesmere Business Park, Oswestry Road, Ellesmere, Shropshire SY12

From 10,238 - 10,239 sq. ft

Local area information

Property location

Nearby amenities

  • Lakelands Academy 0.3 miles
  • Ellesmere Primary School 0.7 miles
  • Gobowen 5.3 miles
  • Ruabon 6.8 miles

These distances are calculated in a straight line. The actual route and distance may vary.

Features and description

Multi-Let industrial investment, providing a total of approximately 10,239 sq ft.

Features

-Multi-Let industrial investment, providing a total of approximately 10,239 sq ft.
-Located on the Ellesmere Business Park adjacent to the new development land.
-Annual rent of £61,000 by way of 2 new leases from August 2024.
-Low passing rentals of £6.22 sq ft and £5.44 per sq ft.
-Offers are sought in the region of £800,000 (eight hundred thousand pounds), subject to contract and exclusive of VAT. A purchase price at this level reflects an attractive Gross Yield of 7.63% and a low capital value of £78 per sq ft.
-Very limited local supply with strong opportunity for rental growth in the future.

Description

A modern light industrial unit built in approximately 2016 comprising primarily of a warehouse area with an eaves height of approx. 6.8m (os data). The property also benefits from good quality office accommodation to the front and two roller shutter doors to the rear and generous on-site private car parking.
The property sits on a site area of 0.538 acres with a site density of 39%.
Additional development could be accommodated on the Eastern boundary of the site, which is currently unutilised, subject to obtaining the necessary planning consents.
The subject property has been sub-divided and is currently leased to two tenants.

Location

Oswestry is 12 miles south of Wrexham and 17 miles north-west of Shrewsbury. It lies prominently on the A495, which is a major road connecting the A5 to other major towns across Shropshire.

Situation

The subject property is located on Ellesmere Business Park on the outskirts of the town centre. Ellesmere Business Park is the principal commercial area in the town and is home to other businesses such as Spunhill, Lakeside Coaches, Lakeside PVC Solutex, The Shropshire Distillery and cpc Training.

Accommodation Schedule

The property has been subdivided as follows:
Unit A - Ground Floor: 5,091 sq ft (warehouse, ancillary, offices)
First Floor: 1,747 sq ft (offices)
Total: 6,838 sq ft
Unit B - Ground Floor: 3,401 sq ft (warehouse only)
Total 10,239 sq ft
Purchasers to rely on their own measured survey.

Tenancy Information

Unit A
Annual Rent: £42,500
Tenant: Fullwood Services Limited (Company No. 14163167) with a guarantor from Chamo B.V (Company Number kvk 73240044. Btw Nummer nl B.01), trading as Fullwood Joz.
Lease: 10 years from 19th August 2024
Break: 19th August 2029
Repair: Fri (subject to a schedule of condition)
Unit B
Annual Rent: £18,500
Tenant: Hmw Limited (Company No. 04428374) trading as Oakdale Beds.
Lease: 10 years from 26th August 2024
Break: 26th August 2029
Repair: Fri
A copy of both leases can be provided on request.

Covenant

Unit A
Fulwood where acquired by a Dutch based company known as Joz in June 2022 to re-enforce their position as a premium international supplier of fully integrated milking solutions. ().
Unit B
Oakdale Beds (hmw Ltd) is a family run business trading since 2002 selling high quality adjustable beds () and they have been in occupation in Unit B since it was built in 2016.

Services

We understand that mains electricity, water, gas and drainage are connected. Services have not been tested by the agent.

Town Planning

Prospective purchasers should rely on their own enquiries with the Planning Authority but it is understood that the unit has appropriate planning permissions for the existing uses.

Tenure

Virtual Freehold/Long Leasehold (Title No. SL181378). A copy of the Title Registers and Plans is available upon request. The Long Leasehold interest has approx.. 981 years unexpired.

VAT

The property is elected for VAT. It is envisaged that the sale can be treated as a transfer of a going concern (togc).

Legal Costs

Each party will be responsible for their own legal costs

EPC

The property has an EPC rating of C(58). The certificate is available on request.

Anti-Money Laundering

Any potential purchaser will be required to share relevant information to comply with anti-money laundering checks.

More information

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  1. Zoopla
  2. Commercial for sale
  3. Shropshire
  4. Ellesmere
  5. Oswestry Road