Property description
Excellent opportunity to acquire a high yielding, value add portfolio. Comprising 3 multi-let industrial estates situated in Runcorn, Bolton, and Rochdale.
The portfolio has a total Gross Internal Area of 210,724 sq ft, with individual assets ranging from 37,685 sq ft – 101,937 sq ft. The Portfolio is let to 10 tenants providing a diverse range of income, the WAULT to Expiry is 4.44 years and break is 3.32 years.
The Total Headline Rent is £1,066,931 pa which equates to a low average rent of £5.06 psf. There is a strong reversionary potential with an estimated rental value of £1,365,628 pa (£6.48 psf, 28% reversion). This reversion can be accessible through immediate asset management opportunities across the whole portfolio.
The purchase price of £11,280,000 reflects a NIY of 8.85%, reversionary yield of 11.35% and a low capital value of £53.53 psf.
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