Industrial Unit for sale Melton Mowbray LE13 1XH,7403sq ft

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Industrial Unit

Industrial Unit For Sale Melton Mowbray

PROPERTY ID: 131416

PROPERTY TYPE

Industrial Unit

STATUS

Under Offer

SIZE

7,403 sq.ft

Key Features

Busy retail pitch with adjoining occupiers include Morrisons, William Hill, Specsavers and Superdrug.

Let to the UK's largest franchised flooring and bed retailer.

Rebased rental income of £35,000 per annum only £4.73 psf.

5 yearly UNCAPPED RPI linked rent review.

Seeking offers in excess of £310,000. A purchase at this level reflects a net initial yield (NIY) of 10.92% assuming usual purchaser's costs.

Property Details

Fantastic Opportunity To Purchase A Retail Unit Occupied By United Carpets (property) Limited, Situated On A Busy Shopping Parade With Neighbouring Businesses Including Morrisons, William Hill, Specsavers And Superdrug. Summary - Let To The Uk's Largest Franchised Flooring And Bed Retailer Recently Renewed 10 Year Lease From June 2023. Uncapped Rpi Linked Rent Review And A Tenant Only Break Clause On The 5th Anniversary Of The Lease Commencement Rebased Rental Income Of £35,000 Per Annum Only £4.73 Psf Seeking Offers In Excess Of £310,000 A Purchase At This Level Reflects A Net Initial Yield (niy) Of 10.92% Assuming Usual Purchaser's Costs The Uncapped Rpi Increase At Year 5 Provides Excellent Reversionary Potential. Assuming Rpi Growth At 2.5% Pa This Could Equate To 12.35% In June 2028. Lease Summary - The Entire Property Is Let To United Carpets (property) Limited On A 10 Year, Full Repairing And Insuring Lease Renewal With Effect From 16 June 2023. The Passing Rent Has Been Fully Rebased As Part Of The Lease Renewal Negotiations To £35,000 Per Annum. The Lease Incorporates An Uncapped Rpi Linked Rent Review And A Tenant Only Break Clause On The 5th Anniversary Of The Lease Commencement In June 2028. United Carpets (property) Limited Are A Wholly Owned Subsidiary Of United Carpets Group Limited, The Uk's Largest Franchised Flooring And Bed Retailer. Location - The Property Is Located On Sherrard Street In Melton Mowbray, In The Melton District In Leicestershire. The Busy Shopping Parade Includes Local And National Businesses Such As Morrisons, William Hill And Lloyds Bank. Chapel Street Car Park And Parkside Car Park Are 0.1 Miles Away From The Property With Melton Mowbray Train Station Being Within A 10-minute Walk. Melton Mowbray Is One Of The Country's Oldest Market Towns With Markets Running Every Tuesday And Saturday. A Weekly Farmers Market Is Additionally Held Every Friday. Description - The End Of Terrace Property, Arranged Over Ground And First Floor, Is Of Concrete Structure With Red Brick Infill Panels And A Glazed Frontage To The Ground Floor. The Building Benefits From A New Flat Roof Installed In October 2023. The Property Provides Retail Accommodation Over Ground And Part First Floor With Additional Storage, A Kitchenette And W/c Facilities At First Floor. Internally The Accommodation Is Finished With Painted Walls, Carpeted Floors And Suspended Ceilings With Fluorescent Light Fixtures. A Rear Loading Yard Extends To Approximately 0.05 Acres (0.02 Ha), Providing External Storage And Off Street Car Parking Facilities. For More Information, Please See The Attached Brochure Or Contact The Relevant Agents. Busy Retail Pitch With Adjoining Occupiers Include Morrisons, William Hill, Specsavers And Superdrug. Let To The Uk's Largest Franchised Flooring And Bed Retailer. Rebased Rental Income Of £35,000 Per Annum Only £4.73 Psf. 5 Yearly Uncapped Rpi Linked Rent Review. Seeking Offers In Excess Of £310,000. A Purchase At This Level Reflects A Net Initial Yield (niy) Of 10.92% Assuming Usual Purchaser's Costs.

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About the Agent

Fisher German LLP- Doncaster

See Agent's Other Properties

Industrial Unit

£310,000 Freehold

63 Sherrard Street, Melton Mowbray, LE13 1XH

Industrial Unit - Under Offer
7,403 sq ft
688 sqm

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