Property description
Opportunity to acquire an extremely low site density, modern detached industrial unit, located in St Helens with immediate access to J7 of the M62.
The property comprises a detached 33,012 sq ft warehouse on an extensive 5.50-acre site, providing a 14% site density. We calculate there to be a surplus site area of 3.82 acres. The premises benefits from 9.50m eaves, extensive loading provision, and open storage areas.
On completion, the property will be leased back to ViaCon on a 10-year FRI lease with a tenant break option in year 7. Rent review provision in year 5 to the higher of OMV or CPIH+1% (1%-3% pa). Initial headline rent of £460,001 pa, reflecting £7.00 psf on the building and £60,000 per acre on the surplus land.
The purchase price of £6,830,000 reflects a NIY of 6.25% and a capital value of £104 psf, after deducting the surplus area.
Agents
