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Commercial Property for sale

Ashville Ind Est, Runcorn

Guide Price £995,000

Property Description

Full description

Single Let Industrial Investment
Producing £90,000 per annum
10 year lease from April 2015
Net yield 8.66%

Location: - The property is situated fronting Ashville Way on Ashville Industrial Estate in the Sutton Weaver district of Runcorn, just under 4 miles from the Town Centre. The area benefits from excellent communication links being situated directly adjacent to Junction 12 of the M56 Motorway. The M56 connects with the M6 Motorway just under 9.5 miles to the East, with Manchester some 27 miles distant and Liverpool and Chester approximately 22 miles to the West.

Ashville Industrial Estate was developed in the late 1970s / early 1980s and comprises a variety of industrial units taking many forms, from large scale distribution depots, smaller industrial units and large open storage compounds.

Description: - The property comprises an industrial unit of steel portal frame construction over a single bay to an eaves height of 4.78m, 5.51m to the underside of the roof. The building is clad in block and facing brick at low level with insulated profile metal panels to the eaves. The whole is contained beneath a pitched, insulated corrugated sheet clad roof, incorporating translucent sheets.

In addition to the main workshop, there is a substantial covered store. This is also of steel portal frame construction, to an eaves height of 5.06m.

Internally, the workshop provides clear open warehouse accommodation having a solid concrete floor. Lighting is provided via sodium box units with heating by way of mounted gas fired radiant heaters.

Ancillary office accommodation is provided to the North Easterly section of the building and is currently contained over ground and first floor level.

Externally there is a tarmac and concrete surfaced loading and circulation area, which is accessed off Ashville Way. The site is secured by a steel palisade fence with gated access from Ashville Way, with the building providing the majority of the remaining boundaries.

Accommodation - We have measured Unit 4 Ashville Industrial Estate on the basis of its gross internal floor area.

The current configuration of the property is as follows:
Ground Floor

Warehouse, Office & Ancillary - 1,806.03 sq m (19,441 sq ft)

First Floor
Offices & Ancillary - 144.05 sq m (1,551 sq ft)

Sub Total - 1,950.08 sq m (20,992 sq ft)

Canopy 521.66 sq m (5,615 sq ft)

Total Gross Internal Area 4,530.18 sq m (26,607 sq ft)

Lease Information - The property is let in its entirety to OSA Door Parts Limited for a term of 10 years from 1st April 2015. The current passing rent is £90,000 per annum and the lease incorporates rent reviews on the 4th and 7th anniversary of the term by reference to the change in the RPI.

The lease is drawn on FRI terms with the repairing liability limited to Schedule of Condition and the tenant shall have no liability in respect of the roof.

Tenants Financial Profile - OSA Door Parts Limited (Company No. 04267836) provided the following financial figures up to March 2015:

Turnover - £4,553,588
Pre-tax Profit - £273,158
EBITDA - £317,390
Date of Incorporation - 2001
Type of Business - Wholesale wood, construction material and sanitary equipment
Ultimate parent company - Ensor Holdings Limited

Tenure - TBC

Business Rates - The property is entered into the 2010 Rating list as follows:

Warehouse and Premises RV - £64,500

Vat - TBC

Epc - On order

Asking Price - £995,000

A purchase at the asking price equates to a net yield of 8.66% assuming purchasers costs at 4.44%.

MISREPRESENTATION ACT
Roger Hannah & Co Ltd act as agents for the vendor(s) or lessor(s) of this property and gives notice that: (i) The particulars are a general outline only for the guidance of intending purchasers or lessors and do not constitute an offer or contract (ii) All descriptions are given in good faith and are believed to be correct, but any intending purchasers or lessees should not rely on them as statements of fact and must satisfy themselves by inspection or otherwise as to their correctness. (iii) None of the buildings services or service installations have been tested and are not warranted to be in working order. (iv) No employee of the two agents has any authority to make or give any representation or warranty whatever in relation to the property. (v) Unless otherwise stated all prices are quoted exclusive of VAT. (vi) Where applicable an Energy Performance Certificate is available upon request.


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