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Just added
Offers over
£2,000,000
(£112.82/sq. ft)
Industrial for sale
Unit 10A & 10B, The Wheelwrights, Temple Farm Industrial Estate, Southend On Sea, Essex SS217,728 sq. ft
Local area information
Property location
Nearby amenities
- Southend Airport 0.6 miles
- Prince Avenue Academy and Nursery 0.8 miles
- Sutton House Academy 0.9 miles
- Prittlewell 0.9 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Features and description
- Let to fms Foils Group Ltd
- Net Initial Yield - 6.04%
- Current Income - £128,000 per annum exclusive
- Reversionary Yield - 8.35%
- An EPC survey has been commissioned, further details on request.
Detached double pitched industrial/warehouse unit arranged as factory and stores at ground floor with ancillary offices, separate male and female WCs, kitchenette, locker room with further offices, predominantly open plan arrangement at first floor and mezzanine storage. The property benefits from two electric roller shutter doors to the front with space for loading and unloading on the front forecourt.
Investment summary
Assuming an erv at review of £177,500 pax (£10.00 per sq. Ft.) and a purchase price of £2Million allowing for purchasers costs of 5.75%, this equates to a Reversionary Yield of 8.35%.
Location
Temple Farm Industrial Estate in Southend-on-Sea is a well-established commercial hub offering versatile industrial units with excellent transport links and modern amenities. Located approximately two miles north of Southend town centre, Temple Farm Industrial Estate is strategically positioned near the A127, Southend's main arterial road, providing convenient access for logistics and distribution. The estate comprises a mix of light industrial and warehouse units.
VAT
All rents, prices and premiums are exclusive of VAT under the Finance Act 1989.
Rating
From enquiries made of the Valuation Office Agency, we believe the Rateable Value to be £85,000 for 2025/26. Based upon the Uniform Business Rate we believe the rates payable amount will be £47,175.
Legal Costs
Each party to bear their own legal costs incurred in this transaction.
EPC
An EPC survey has been commissioned, further details on request.
Tenure Comments
The property is held on a 999 Year Long Leasehold (virtual Freehold) from 1977 with a peppercorn Ground Rent. The unit is currently sub-let to fms Foils Group Limited on a ten year lease from 9 May 2023 with an upwards only rent review in the fifth year and a Tenant's option to break upon six months prior written notice at a passing rental of £128,000 per annum.
Investment summary
Assuming an erv at review of £177,500 pax (£10.00 per sq. Ft.) and a purchase price of £2Million allowing for purchasers costs of 5.75%, this equates to a Reversionary Yield of 8.35%.
Location
Temple Farm Industrial Estate in Southend-on-Sea is a well-established commercial hub offering versatile industrial units with excellent transport links and modern amenities. Located approximately two miles north of Southend town centre, Temple Farm Industrial Estate is strategically positioned near the A127, Southend's main arterial road, providing convenient access for logistics and distribution. The estate comprises a mix of light industrial and warehouse units.
VAT
All rents, prices and premiums are exclusive of VAT under the Finance Act 1989.
Rating
From enquiries made of the Valuation Office Agency, we believe the Rateable Value to be £85,000 for 2025/26. Based upon the Uniform Business Rate we believe the rates payable amount will be £47,175.
Legal Costs
Each party to bear their own legal costs incurred in this transaction.
EPC
An EPC survey has been commissioned, further details on request.
Tenure Comments
The property is held on a 999 Year Long Leasehold (virtual Freehold) from 1977 with a peppercorn Ground Rent. The unit is currently sub-let to fms Foils Group Limited on a ten year lease from 9 May 2023 with an upwards only rent review in the fifth year and a Tenant's option to break upon six months prior written notice at a passing rental of £128,000 per annum.
More information
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