Units 1-10 Polygon, Avonmouth , BS11 8DP
£2,000,000.00
Ref No. 7034
Under offer

Location Units 1-10 Polygon, Fourth Way, Avonmouth, BS11 8DP, Bristol, , South West
Avonmouth is an established commercial area located 7 miles west of Bristol city centre and connected via the A4 Portway trunk road. The Polygon is well situated on Fourth way, within an established industrial location and in close proximity to junction 18a of the M5 motorway. Nearby occupiers include Renault Trucks, Nisbets, Davies Turner & Co, Flo Gas, Subway Northgate and Scania.

Size 22977.00 ft2
(2134.63 m2)

Description Multi-Let Industrial Investment Opportunity

  • Located in Avonmouth, one of the South West region's most established industrial/distribution locations
  • Two terraces of 11 industrial units built in 1980s totalling 2,134 sq m (22,977 sq ft)
  • Long leasehold for 125 years from 1 January 1985 at £13,800 per annum
  • Multi-let to 8 tenants providing a spread of income
  • Low site coverage of only 34%
  • AWULT of 3.24 years to expiry and 2.00 years to break
  • Rent of £176,314 per annum, which equates to £7.67 per sq ft
  • Opportunities to add value through letting, restructuring and development

Specification

The property provides a gross internal area of 2,134.61 sq m (22,977 sq ft) on a site of 0.626 hectares (1.547 acres).

  • Two terraces of 11 units constructed in the mid 1980s
  • Steel portal frame construction with brick and block cavity walls and profile metal cladding under a pitched insulated roof with translucent roof panels
  • Each unit has an eaves height of approximately 18 ft and is accessed via roller shutter doors
  • Each unit also benefits from a tarmacadam forecourt with 2-3 car parking spaces
  • Separate estate parking providing 18 spaces

Terms

Our client is seeking offers in excess of £2,00,000 (two million pounds) reflecting a net initial yield of 7.65% and a reversionary yield of 8.14%, after deducting costs of acquisition of 6.27%.

VAT

The property is elected for VAT purposes and therefore it is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).

Property Type Industrial/logistics

Average Weighted lease length 125 years

Initial Yield 7.65%

Property Contacts:

  • Simon Bennett
    +44 (0)117 930 5717
  • Oliver Paine +44 (0)117 930 5718
Property Location:



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