£4,000,000

Warehouse for sale

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£4,000,000

(£28.94/sq. ft)

Warehouse for sale

Pr House, Hortonwood 30, Telford, Shropshire TF1

138,239 sq. ft

Local area information

Property location

Nearby amenities

  • Teagues Bridge Primary School 0.7 miles
  • Wrockwardine Wood Church of England Junior School 1 mile
  • Oakengates 1.9 miles
  • Wellington (Shropshire) 2.2 miles

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

Features and description

  • Highly reversionary, modern multi let warehouse with offices
  • 138,239 sq ft gia on 6.08 ac incl. Car park with 140 spaces
  • Current passing rent £228,420 pa with potential to increase
A rare opportunity to acquire a highly reversionary, modern multi-let warehouse with offices located in the heart of the Midlands.
The property comprises a high bay and low bay warehouse facility of steel portal frame construction with two-storey office block extending to a total of 138,239 gia on a substantial site of 6.08 acres (2.46 hectares). Site coverage is approximately 45% with an area of expansion land adjoining the high bay warehouse.
The high bay warehouse is currently let. It is arranged in a single bay with an eaves height of 12.4m and benefits from 2 dock level loading doors and 1 level access loading door.
The lower bay warehouse is currently vacant. It is arranged in 3 bays with eaves heights varying from 5.3m to 6.1m and benefits from 2 dock level loading doors and 1 level access loading door.
The two-storey offices are currently part let and provide a number of offices and meeting rooms, complete with reception and WC facilities and passenger lift.
The site includes a dedicated car park with approximately 140 car parking spaces.
Please see marketing brochure for full property specification.
The property is multi let to 4 tenants including Telford Transport Solutions, Premium Group, Electronic Partners and MD Performance Arts School generating a current passing rent of £227,420 per annum. For full Tenancy Schedule please refer to the marketing brochure.
Approximately 55% of the property is currently vacant offering immediate asset management and income creation opportunities. There is an unexpired WAULT of 3.33 years to break and 3.42 years to expiry.

Location
Telford is located approximately 35 miles west of Birmingham, 20 miles west of Wolverhampton, 13 miles east of Shrewsbury and 28 miles south of Stoke on Trent. Its fast road connectivity makes Telford a widely recognised logistics hub.
The property itself is situated immediately opposite the A442 on the well established Hortonwood Industrial Estate, with excellent access to Junctions 5 and 6 of the M54 motorway, which connects with the M6 providing access to Birmingham and the wider UK network.
Nearby occupiers include dhl Express, Craemer UK, denso Manufacturing and Heinz Food Service.
Telford Central Railway Station is 6-minutes drive from the property providing quick and regular services Birmingham New Street and Birmingham International, as well as a number of other destinations.

Planning
Interested parties to make their own enquiries.

Tenure
We are instructed to seek offers in excess of £4 million for the freehold investment, subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 5.34%, assuming purchaser's costs of 6.4%, with a Headline Reversionary Yield in excess of 15%. Low Capital Value at only £28.94 psf significantly below replacement cost.

Service Charge
Further information is available upon request.

Local Authority
Telford & Wrekin Council, Darby House, Lawn Central, Telford, TF3 4JA - Tel:

Rateable value
Interested parties to make their own enquiries.

Energy Performance Certificate
The property has an Energy Rating of D(77).

More information

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Property descriptions and related information displayed on this page are marketing materials provided by - Andrew Dixon and Co. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Andrew Dixon and Co for full details and further information.

  1. Zoopla
  2. Commercial for sale
  3. Shropshire
  4. Telford
  5. Hortonwood 50

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