Property description
High yielding, reversionary industrial investment with immediate asset management opportunities. Let to Limitless Digital Group Ltd until December 2032 (tenant break January 2028) at a passing rent of £315,000 pa (£5.00 psf), against an ERV of £423,704 pa (£6.75 psf).
Located on Rossendale Road Industrial Estate, Burnley’s dominant industrial location, 1 mile from Junctions 9 and 10 of the M65 with direct access to the M6 and M61. Occupiers include The Original Factory Shop, Mann + Hummel, Veka and Warburtons.
The property is two adjoining steel portal frame warehouses on a 3.32-acre site with 43% site coverage. It has 3 dock level and 2 ground level loading bays, eaves of 4.24m and 6.60m, and a secure yard. It is held on a virtual freehold (999 years), and the tenant is marketing an assignment of its lease. A purchaser can pursue a surrender and dilapidations settlement, re-let at the reversion, refurbish, or split into two units.
The price of £3,600,000 reflects a NIY of 8.22%, a reversionary yield of 11.05% and a capital value of £57 psf (below VP values).
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