A good quality detached warehouse, comprising a two bay, steel protal frame warehouse, with two storey integral offices. The property has been well maintained and offers clean, unrestricted warehouse/production space.
The building eaves height to the underside of haunch is 5.5m and 5.7m to the centre beam. The warehouse is fitted with heating and fluorescent strip lighting.
There are two ground level steel roller shutter doors to the front of the building which provides access to the concrete loading yard. The site benefits from a very large car park which could be reconfigured to create additional yard space if required. The site is well secured with perimeter palisade fencing and gates to the car park and yard entrances.
Location
The property is situated in a prime position offering direct access to the A57 Sheffield Parkway which in turn links with Sheffield city centre (2 miles to the west) and Junction 33 of the M1 motorway (4 miles to the east). This is a well established and popular commercial location with a number of well known businesses including Costco and Mawdsleys.
Accommodation
The premises provide the following approximate gross internal floor areas:
Warehouse - 56,780 sq ft
Ground Floor Offices - 1,464 sq ft
First Floor Offices - 1,464 sq ft
Total - 59,708 sq ft
Terms
PROPOSAL
Offers are sought in excess of £XXX which represents a net initial yield of 9.51% which allows for purchaser's costs at 5.80%. A purchase at this level reflects a low capital value of £XXXpsf.
VAT
We understand the property is elected for VAT and therefore the sale will be treated as a Transfer Of a Going Concern.
Tenant - Approved Food Ltd
Rent - £XXX pa
Lease Start - 4/6/2014
Lease Expiry - 3/6/2019
Break Clause - 1/5/2017
Repairs - Full repairing
Specification
- DETACHED WAREHOUSE BENEFITING FROM 2 STOREY OFFICES
- THE UNIT COMPRISES 59,708 SQ FT
- SITE AREA OF 2.88 ACRES WITH A LOW SITE COVER OF 46% AND LARGE YARD
- LOCATED IN PROMINENT POSITION OVERLOOKING THE A57 WITH EXCELLENT LINKS TO J33 M1 (4 MILES TO THE EAST)
- FULLY REFURBISHED PRIOR TO TENANT’S OCCUPATION
- LET TO APPROVED FOOD LTD ON A 5 YEAR LEASE FROM 4/6/2014 EXPIRING 3/6/2019
- LOW PASSING RENT OF £XXX PER ANNUM (£XXXPSF)
- FREEHOLD
- OFFERS ARE SOUGHT IN EXCESS OF £XXX WHICH REPRESENTS A NET INITIAL YIELD OF 9.51% ALLOWING FOR PURCHASER’S COSTS AT 5.80%
- LOW CAPITAL VALUE OF £XXXPSF
- EPC - C (55)