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Industrial Unit with 1st Floor Office, Unit 4a Squiresgate Industrial Estate, off Squires Gate Lane, Blackpool, FY4 3RN

32,100 Sq Ft / Industrial / Mixed Use

For Sale - £2,400,000.00

Available - Last updated: 22 September 2022

The property comprises a modern self-contained steel portal frame unit.

The unit was formerly utilised as a cash and carry.  The landlord has recently undertaken extensive refurbishment works including the replacement of lighting with modern LED units, removal of former fridges and cold store area to create an open plan warehouse unit with large span, installation of new perimeter fencing and gate, removal of landscaped carpark to create large yard area and painting of cladding.

The property also incorporates a single storey first floor office element which extends to 1,879 sqft.

The landlord has completed an AFL with Simpsons Beverages Supply Co. As part of the landlord works they are currently installing a second loading door.

( Agency Pilot Software ref: 11547 )

Location

Squires Gate Industrial Estate is established as the leading industrial/distribution location in Blackpool, located two miles from Junction 4 of the M55 motorway and adjacent to the town centre.

The estate extends to 130 acres and is home to high profile occupiers including City Plumbing, Warburtons, Magellan Aerospace and Arnold Clark. It is adjacent to Blackpool Retail Park home to retailers such as Aldi, Dunelm, TK Maxx, and Currys; and has a strong amenity offering including Greggs, McDonald’s, Starbucks and Costa.

The estate adjoins Blackpool Airport and is located within the Enterprise Zone (an area benefiting from business rates relief and enhanced capital allowances).

The property occupies a prominent position on Squires Gate Industrial Estate and sits adjacent to Squires Gate Retail Park.

It is accessed from Squires Gate Lane which adjoins the busy A5230 which provides direct access to the M55.

The property is located less than 1 mile from Blackpool town centre. The M55 provides connectivity to Preston, adjoining the M6, in turn connecting to Manchester and Lancaster.

Accommodation

Size - 32,100 sq ft

Terms

Energy Performance Certificate - The EPC is rated B. A copy of the EPC is available upon request.

VAT - The property has been elected for VAT. The sale will be undertaken as a Transfer of a Going Concern (TOGC).

Planning - B2 and B8 Planning Storage and Distribution use as designated by Town and Country Planning (Use Classes) Order 1987. 

We are of the opinion that the unit would also suit a variety of other uses in the future, including retail warehousing and leisure, subject to planning.

Proposal - We are instructed to seek offers in excess of £2,400,000 (Two Million Four Hundred Thousand pounds).

A purchase at this level reflects a Net Initial Yield of 6.29% and a low capital value of just £74.77 psf. The above assumes purchaser’s costs at 6.36 %.

Specification

  • Located on the well established Squires Gate Industrial Estate, within Blackpool Airport Enterprise Zone.
  • Positioned off the busy A5230, close to the M55.
  • Modern, self-contained unit extending to 32,100 sqft.
  • Let to the strong covenant of Simpsons Beverages Supply Co Ltd, with a Creditsafe score of ‘very low risk’.
  • Tenant has been established in Blackpool since 1934.
  • Significant investment on refurbishment prior to letting.
  • Current passing rent of £160,500 per annum (only £5.00psft) offering scope for reversion.
  • New 10 year lease expiring July 2032.
  • Freehold
  • We are instructed to seek offers in excess of £2,400,000 (Two Million Four Hundred Thousand Pounds), subject to contract and exclusive of VAT.
  • A purchase at this level provides an attractive Net Initial Yield of 6.29% (assuming purchaser’s costs of 6.36%) and a low Capital Value of £74.77 psf.
  • 6.7m minimum eaves
  • 11m ridge height
  • 2 roller shutter loading doors (on completion of landlord works)
  • LED lighting (recently upgraded)
  • Gas fired heating throughout
  • Extensive surfaced yard
  • Secured by perimeter fence
  • Separate independent car parking to the front
  • Profile metal clad roof and elevations

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
  For Sale Freehold £2,400,000.00 NA

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Contact agents

Ian Whittaker

Ryden LLP

0161 401 1320



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