Multi-let Industrial Terrace

Key Features

• Rare opportunity to acquire a multi-let industrial terrace.
• Short distance to the A6110, the main arterial route between Leeds and Bradford.
• 4,500 sq ft across 3 units.
• Freehold.
• Headline rent of £33,800 per annum (very low average rent of £7.51 per sq ft).
• Strong reversionary potential, with a headline ERV of £40,125 pa (reflecting an average £8.92 per sq ft).
• Asset management opportunities to capture rental growth.
• Offers are invited in excess of £500,000 (Five Hundred Thousand Pounds), subject to contract and exclusive of VAT.
• A purchase at this level reflects a net initial yield of 6.46% and a headline reversionary yield of 7.66%, assuming purchaser’s costs of 4.70%.
• Attractive overall capital value of £111 psf.

Description

The estate comprises a terrace of three units which all extend to 1,500 sq ft (4,500 sq ft in total). It is of steel portal frame construction, faced with brickwork and profile metal sheeting. Each unit has one ground level loading door and one pedestrian door. There is a loading area to the front of each unit, with diagonal car parking adjacent to the northern boundary of the site. To the east is a small yard area, which is demised to Unit 1. The eastern boundary is marked by metal security fencing with gated access.

Location

Units 1 - 3 Commercial Way is located in Pudsey, which is a large town conveniently located between Leeds and Bradford. It is just 1 mile from the A6110 (Pudsey Ring Road), which links to Bradford in 5 miles (17 minutes) and Leeds in 5.6 miles (18 minutes). It is just 12 minutes from the M621 which in turn links to the M1 and M62, providing excellent road connections.

Pudsey benefits from a train station (New Pudsey) which links to Bradford in 9 minutes and Leeds in 13 minutes, up to 4 times per hour. The estate is located on the southwestern side of Hough Side Road. Bus stops on nearby Swinnow Road provide very regular services every 5 – 8 minutes) between Pudsey, Leeds and beyond.