A FULLY-LET terrace of industrial units on one of Northamptonshire’s premier business parks is available for sale, representing an excellent opportunity for investors.
The four units, on the Cornwell Business Park on the Brackmills Industrial Estate, are on the market with Hadland Chartered Surveyors and Drake Commercial, with offers sought in excess of £1.825m.
The multi-let scheme delivers an annual rent of £135,700 reflecting a net initial yield of seven per cent allowing for purchaser’s costs.
The units provide a mixture of clear span and undercroft warehouse space along with modern open-plan office space and each one benefits from a minimum eaves height of 6.4m rising to 7.6m as well as a roller shutter door to each unit.
There also is extensive parking on the one-acre site.
Peter Castle, Managing Director of Hadlands, said: “This multi-let business park in a prime commercial location represents an excellent investment opportunity. The most recent letting took place in September this year at £7.39 per square foot in contrast with £5.10 per square foot on lettings 2 years ago. This bodes well for rental growth within the scheme.”
“Each unit is around 500 square metres, taking up around half of the overall site, leaving ample room for parking.”
Among the deals that have been completed by Hadlands recently is the letting of a retail unit in Abington Street to Only5Pounds, the first five-pound shop in what the online retailer anticipates will more eventually number more than 100 stores across the country.
The store operates in similar fashion to the more familiar pound shops but offers a wide range of home, DIY and kitchen products at a fixed price of £5.
Also completed recently was the letting of 56 Bunting Road in Kingsthorpe Hollow to a company that has been awarded a contract by Northamptonshire County Council to provide landscaping and gardening maintenance services. The deal was agreed at the asking rent of £16,000 per annum on a new nine-year lease.
Elsewhere, 9 George Row has been let to Fine and Country Estate Agents at £17,500 on a new 10-year lease, while a 800 square foot retail unit at 7 St Peter’s Walk has been let on a new lease at £15,000 per annum on a 10-year lease.
For more information about properties or services available from Hadland Chartered Surveyors, telephone 01604 639657 or visit the website www.hadlands.co.uk