Property description
Rare opportunity to acquire a reversionary distribution warehouse, secured to an undoubted covenant with guaranteed rental uplift in 2028.
The property is located in Warrington, the heart of the North West, on the prominent Winwick Quay Industrial Estate. The M62 lies adjacent to the asset and J21a of the M6 is only 2 miles away.
The property comprises an extensive parcel distribution unit of 184,177 sq ft, on a significant 11.19-acres site (low site cover of 38% and 360-degree circulation.
Let to EVRi Ltd for an unbroken term of 10 years from September 2023, there is a highly attractive rent review in September 2028 to the higher of OMV or CPI (2% - 4% pa). The property has a current passing rent of £1,383,937.50 pa (£7.51 psf), with an ERV of £1,657,593 pa (£9.00 psf), offering substantial reversion.
The purchase price of £22,140,000 reflects a NIY of 5.85%, a RY of 7.01% (Sept 2028), and a low capital value of £120 psf.
Thank You
Your request has been received. A member of the team will be in touch.
Agents
