Property description
An excellent opportunity to acquire a highly reversionary, value add portfolio. Comprising 2 multi-let industrial estate located in Warrington.
Warrington Central Trading Estate has a GIA of 120,332 sq ft (1,115 – 19,509 sq ft), on a substantial site area of 7.15 acres. Causeway Park has a GIA of 131,081 sq ft (2,368 – 56,239 sq ft), on a significant site of 5.81 acres.
Currently 88% let to 16 tenants providing a diverse income stream with 81% of the tenant Outside of the 1954 Act. Total headline rent of £981,916 pa which equates to a very low average rent of £3.78 psf on the build accommodation. Strong reversionary potential with an ERV of £1,321,676 pa (5.10 psf).
The purchase price of £11.21M reflects a NIY of 8.21%, RY of 11.05%, and a very low capital value of £44.59 psf.
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