The property comprises a single storey brick built terrace of 9 small/starter industrial units beneath a roof of flat construction with domed roof lights. Each unit is open plan with a small office and toilet and has the benefit of a metal roller shutter loading door and headroom of 13ft 6 inches. Outside the terrace is served with a service yard to the front of the units which also provides parking. Each unit has access to a rear yard which is useful for storage, and could provide space for extending the unit as demonstrated by Unit 7 which has a small lean to extension. This would subject to the necessary consents being obtained. The property is bounded by metal palisade security fencing and gates.
Location
Middlesbrough is the major town within the Teesside conurbation with an urban area population of close to 150,000. The town is located 40 miles south of Newcastle upon Tyne, 50 miles north of York and 65 miles north of Leeds. The property is located off Sotherby Road on the popular Skippers Lane Industrial Estate.
Skippers Lane Industrial Estate is Middlesbrough’s premier business location accommodating a number of regional and national occupiers. The estate is approximately 2 miles east of Middlesbrough town centre and benefits from excellent transport links being close to the A66 which provides access to the reginal road network.
Accommodation
The attached schedule outlines the relevant accommodation and tenancy details.
Terms
TENURE - Freehold subject to the terms of the tenancies described in the attached schedule
PRICE - We are instructed to seek a price of £495,000 subject to contract. This will show the purchaser an initial return of 8% (after allowing for purchasers costs) on the total rent received, or 6.08% on a triple net basis. These returns will increase to 10.3% or 8.4% on the letting of the two vacant units assuming ERV’s of £6,000 per unit.
VAT - The property is elected for VAT purposes.
ENERGY PERFORMANCE CERTIFICATES - The units have been independently assessed for energy performance with a single assessment in Band D (96). A copy of the Energy Performance Certificates is available on request from the selling agents.
Specification
- Comprising single terrace
- With 9 small industrial units
- Providing a total of 15560 sq ft
- Producing £41,420 per annum
- 7 occupied units and 2 currently vacant
- An excellent mix of long standing and local occupiers
- Sensibly priced with attractive yield