Block H, Showground Site
Crossways Road, Bridgwater , TA6 6LS
£1,650,000.00
Ref No. 7399
Under offer

Location Crossways Road, Bridgwater, TA6 6LS, Somerset, , South West
The property is situated in close proximity to Junction 24 of the M5 and about 2 miles south east of the town centre. The property also offers prominent frontage to Taunton Road (A38) which is the main road into Bridgwater from both J24 and the south. Bridgwater is currently seeing rapid residential expansion. The site is also located next to the new "Wren Garden" housing development from Persimmon Homes, providing a range of 2, 3 and 4 bed homes. The area has recently undergone extensive development, including the completion of a new school and a number of on-site retail offerings. The Showground site offers a mixture of car showroom, office and industrial uses in the surrounding area. Nearby occupiers include Mini, BMW, Britannia, EDF, MailaDoc, Muller Dairies, Hermes, Argos Distribution Centre, Mole Valley Feed Solutions, Blake Veterinary Group and Falcon Vehicle Solutions.

Size 27475.00 ft2
(2552.51 m2)

Description Well Secured Freehold Industrial Investment Opportunity

  • Strategic location with easy access to the A38 and Junction 24 of the M5
  • Bridgwater is expected to see considerable inward investment through Hinkley Point
  • 1990's warehouse totalling 27,475 sq ft GIA
  • Low site coverage of only 32%
  • AWULT of 8.3 years to expiry
  • Low base rental of only £5.11 ft
  • Strong covenant of Grafton Merchating GB Limited (5A1 D&B rating)

Specification

The property comprises a modern, detached warehouse built in the 1990s. The building includes ground and first floor office accommodation, mezzanine storage, together with a trade counter area and showroom. The specification of the property includes: - Steel portal frame construction with profile metal sheet elevations and roof - 5.24 metre eaves height - Access via 3 loading doors - Ground and first floor office areas, together with substantial landlord's mezzanine - Allocated car parking to the front for approximately 50 cars and 2 HGVs - Extensive rear loading yard area The total site area is 1.45 acres (0.59 hectares), providing site coverage of 32%.

VAT

The property has been elected for VAT and therefore VAT will be payable on purchase price. We anticipate that the transaction will be treated as a Transfer of a Going Concern (TOGC).

Tenure

Freehold

Viewings

For further information or to arrange an inspection please contact Simon Bennett or Rose Gentle

Tenancy

The property is let in its entirety to Grafton Merchanting GB Ltd on a 15 year FRI lease from 31 January 2015, expiring on 30 January 2025. The lease is subject to rent reviews every 5 years with the next due in January 2020. The lease is on FRI terms subject to a photographic Schedule of Condition. The property produces a current rental of £115,000 per annum which equates to £5.11 per sq ft, placing nil value on the landlords first floor mezzanine.

Property Type Industrial/logistics

Initial Yield 6.57%

Property Contacts:

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



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