For sale freehold. Two fully let industrial investments.
Two new high quality industrial/warehouse investment opportunities situated at the end of an attractive and well-established gated business park environment, between Ercol Furniture and Princes Risborough Railway Station.
The tenant, Niclen UK Ltd, are the UK arm of Niclen GmbH, who are a major event dry hire company supplying lighting, gantries, PA systems to festivals, film and tv production companies. They produced a gross profit of approximately 12.5m in 2018 with a net income of 2.2m. Accounts and leases are available on request.
( Agency Pilot Software Ref: 726 )
Location
Princes Risborough is an attractive historic market town lying at the foot of the Chiltern Hills. The town has a range of shops including a Marks & Spencer food hall, WH Smith, Costa Coffee and a Tesco supermarket. Currently the population is 8,000. This is due to expand to the west with the addition of 2,500 homes, which is projected to take the town’s population to 14,000/15,000 people. Princes Risborough is 7.5 miles north east of Junction 6 of the M40, and 21 miles from the M25, with an excellent rail service to Birmingham, Oxford and London Marylebone
Accommodation
UNIT 7 3,814 sq ft
Ground Floor Warehouse — 3,480 sq ft
First Floor Mezzanine Storage Area — 334 sq ft
UNIT 8 5,915 sq ft
Ground Floor Warehouse — 4,882 sq ft
Ground Floor Office — 517 sq ft
First Floor Office — 517 sq ft
Terms
PROPOSAL Our client seeks £XXX for their freehold interest. They may also consider selling the units individually. VAT will be applicable on the transaction. This equates to a net yield of circa 5.65% after normal purchasing costs.
Unit 7 The property is let to Niclen UK Ltd for a term of 10 years from 10th January 2020 at a passing rent of £XXX + VAT per annum, which equates to £XXX per sq ft GIA. The rent will be subject to an upward only review at the 5th year. There is also a tenant only break clause at the end of the 5th year upon giving 6 months prior written notice.
Unit 8 The property is let to Niclen UK Ltd for a term of 10 years from 10th January 2020 at a passing rent of £XXX + VAT per annum, which equates to £XXX per sq ft GIA. The rent will be subject to an upward only review at the 5th year. There is also a tenant only break clause at the end of the 5th year upon giving 6 months prior written notice.