The Stables Business Park, Rooks Bridge, Axbridge, United Kingdom, BS26 2TT

Stables Business Park comprises eight individual office buildings, with 13 leased units, on a large site with an area of approximately 5.0 acres. The business park is a mixture of converted farm buildings and modern single storey offices that have been constructed in a Somerset farmstead style. The majority of offices are self-contained and fitted either with central heating systems (some underfloor) or air conditioning units. Each office unit has perimeter cabling trunking and a high speed internet connection via a fibre line.

The business park provides a total of approximately 13,338 square feet (1,655 sq m) of office accommodation. The current leasing configuration reflects an average unit size of 834 sq ft (77.5 sq m). On site parking is provided for over 150 vehicles.

Located in the quiet open countryside of Somerset, the Stables Business Park benefits from excellent road connections in combination with a rural environment. The business park is situated to the west of the village of Rooks Bridge, on the A38 Bristol Road. The A38 provides a direct connection with junction 22 of the M5 motorway, three miles to the south, and also with Bristol International Airport to the north.

Overlooked by the nearby hills of Brent Knoll and Crooks Peak, ‘The Stables’ offers attractive views across the Somerset Levels, with an abundance of wildlife never far away.

We are instructed to seek offers of £2,500,000 subject to contract and exclusive of VAT. An acquisition at this level would reflect a net initial yield of approx c. 7.5%.

The Stables Business Park has a site area of approximately 5.0 acres but the current owner has planning consent for the development of three new buildings, providing nine self-contained offices (Use Class B1(a)), on the adjacent 2.3 acre site. This land is also available by separate negotiation.

The investment comprises a fully let business park, with a stable cashflow, in an attractive rural setting close to the M5 in Somerset. A combination of good tenant demand and zero vacancy offers the potential to add value to the investment by increasing rents in the short term. Further development of the business park, subject to acquisition of the adjoining land, is possible by separate negotiation with the vendor.

The property is registered under a freehold title.

The business park is fully let and comprises 13 individually leased units with a total gross income of £191,327 per annum, which reflects an average rent of £13.12/sq ft. Almost all of the leases have been granted with a term of 10 years and a 5 year break clause. The weighted average unexpired lease term is approximately three years. Each lease has been drafted on internal repairing terms, with a service charge for the recovery of the landlords' maintenance, repair and insurance costs. The tenant mix comprises both national (e.g. NFU & NAS) and local covenants.

More information regarding the tenants and the lease terms is available on request by agreement with the landlord.