The property comprises a semi-detached modern industrial unit of steel portal frame construction with profile sheet elevations and roof. The tenant has installed roof-mounted photovoltaic panels. The property provides warehouse space accessed via an up and over roller shutter door, together with ancillary offices and workshop space, arranged over ground and first floors, together with mezzanine storage space. The unit has an approximate eaves height of 6 metres.
Location
The property is situated in a sought after business park location on the southern edge of Wrington village. The A38 is approximately 1 mile to the south via Havyatt Road, providing good transport links to the M5. Bristol city centre is approximately 12 miles to the north east, and Bristol Airport is only 4 miles away. Occupiers on the park include Travis Perkins, Butcombe Brewery and Warm Glass.
Accommodation
Totalling 3,741 sq ft
Terms
Tenure Freehold
Tenancy Let to Hot Clay Limited on a 5 year FRI lease from 08 August 2023 expiring 07 August 2028 subject to a rolling mutual break option with effect from 08 August 2026. The current rent passing is £30,000 per annum, reflecting £8.02 per sq ft. Covenant Information Hot Clay is part of Warm Glass UK, which has been trading since 2005 and is the largest UK retailer of quality glass fusing supplies. In 2017 Hot Clay launched its own dedicated pottery supplies website to serve the ceramics community. From the subject premises, the company deliver all over the UK, Europe and worldwide. In 2022 the company obtained B Corp certification.
VAT The property has been elected for VAT. We anticipate that the transaction will be treated as a transfer of a going concern (TOGC).
AML A successful purchaser will be required to provide relevant information to satisfy the AML requirements when Heads of Terms are agreed.
EPC The property has an EPC of D 95 rating. A copy of the certificate is available on request.
Proposal Offers are sought in excess of £410,000 (Four Hundred and Ten Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 7% (allowing for purchaser’s costs at 4.24%) and a capital value of £110 per sq ft.
Specification
• Located in Wrington, an affluent village 12 miles south-west of Bristol city centre
• Modern light industrial unit located on popular business park
• Semi-detached unit arranged over ground and first floor
• Totalling 3,741 sq ft
• Freehold
• Let to Hot Clay Limited on a 5 year FRI lease from 08 August 2023
• Mutual rolling break option with effect from 08 August 2026
• Rent passing is £30,000 per annum reflecting £8.02 per sq ft
• Seeking offers in excess of £410,000 (Four Hundred and Ten Thousand Pounds)
• A purchase at this level would reflect a net initial yield of 7% and a capital value of £110 per sq ft.