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Office for sale

1-3 Kid Glove Road,Golborne,WA3 3GS

Sold STC £1,125,000
12,916 sq. ft.

Property Description

Commercial information

  • 12,916 sq ft (1,199 sq m)
  • Use class orders: B1 Business

Full description

Tenure: Freehold

Location

Golborne is a small town between Warrington and Wigan where the usual local amentities are available.

Road connections are excellent with the property situated within 1/2 mile of the A580 East Lancashire Road and, which links Manchester and Liverpool and connects with the M6 Motorway within 2 miles.


Description

The property comprises a modern two storey office building with on site car parking for 41 cars.

The property is occupied by PHS Compliance, a division of Personnel Hygiene Services Limited. PHS Compliance deal in the testing of equipment and reporting upon adequacy of systems in place for legislation.

PHS Compliance operate their Head Office operations from the premises and the company they took over from had been in occupation since 2005. PHS completed a 150,000 refurbishment of the property earlier in 2015.

We are acting on behalf of the Landlord of this property in disposing of their interest subject to the PHS Tenancy, which is for a 10 year term at a current rent of 95,000 per annum.


Accommodation

Approximate Gross Internal Area.


Ground Floor 600 m 6,458 ft
First Floor 600 m 6,458 ft
Total 1,200 m 12,916 ft


Tenant

Personnel Hygiene Services Limited were incorporated in August 1963 and have their registered office in Caerphilly. PHS are renowned for washroom services and products.

Their reported turnover for the year ending 31 March 2014 was in excess of 288,000,000.


Tenancy

The property is currently let to Personnel Hygiene Services Limited for a term of 10 years from 1st April 2015 on a Tenants Full Repairing and Insuring basis with a rent review and Tenant break on 1 April 2020 at a current passing rent of 95,000 per annum plus VAT. This rent equates to a competitive 7.35 psf, giving the opportunity for future rental growth.


Sale Price

The investment is available to purchase at 1,125,000 which represents a net initial yield of 8% assuming purchase costs of 5.8%.


VAT

The property is elected for VAT and VAT will be payable in addition to the above quoted sale price.


Tenure

Understood to be held Freehold.


NOTE

External property inspections to be made by the roadside. Internal inspections can be arranged following a purchaser's expression of interest to include satisfactory proof of funding.


More information from this agent

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