Summary
The property comprises a detached industrial/warehouse property of steel frame construction with brick and clad elevations under a pitched steel roof. The property occupies a site area of approx. 0.385 hectares (0.95 acres) and has 32 parking spaces together with circulation and yard areas.
Internally the building contains a two-storey office section fitted with gas fired heating, suspended ceilings with LED and Category 2 lighting, air-conditioning and carpeting. The full height industrial/warehouse behind has a min. eaves height of 6 metres and full height loading access at both ends of the building with electric up and over doors. There is a 1000 KVA transformer providing 1400 amps to the property.
Key Points
Substantial single-let industrial unitApprox. 1,877 sq m (20,205 sq ft)Total site area of approx. 0.385 hectares (0.95 acres)Let to Hydreco Hydraulics Ltd. Current annual rental income of £152,235 exclusive. Reversionary lease agreed from 25 December 2028 at an annual rental of £167,450 exclusiveLocated on the popular Upton Industrial Estate, PooleFreehold interest with reversionary lease agreedStrong covenant strengthTenure
Freehold sale. Let to Hydreco Hydraulics Ltd on a 5 year lease expiring on 24 December 2028 at a passing rent of £152,235 per annum exclusive. New 5 year reversionary lease agreed from 25 December 2028 at a rent of £167,450 per annum exclusive.
Proposal
We are instructed to seek offers of £2,250,000 (Two Million Two Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT, reflecting a Net Initial Yield of 6.36% after allowing for purchaser’s costs of 6.33% rising to a reversionary net yield of 7.0%.
VAT
The property is elected for VAT.
AML
A successful bidder will be required to satisfy all Anti Money Laundering requirements when Heads of Terms are agreed.
EPC
The property has a current EPC rating of C – 62. A copy of the EPC is available upon request.
Location
The property is situated on Factory Road on the popular Upton Industrial Estate which is an established commercial location in Poole.
Upton Industrial Estate benefits from excellent road connectivity and strong business infrastructure. Situated off the A35 dual-carriageway, the estate provides good access to Poole, Bournemouth, and the wider area, supporting efficient distribution and commuter travel.
Upton Industrial Estate is home to several large employers including Aerotech, Europlacer, Field Engineering, Refina T&H Marketing Ltd, Tarlu and Sunseeker.
Transport Links:
Roads – A35, A350 and A3049 leading to A31
Airport – Bournemouth Airport is approx. 11 miles away
Port – Port of Poole is approx. 3 miles away