Plot 5B, Terminus Road, Chichester, West Sussex, PO19

SIZE AVAILABLE

19,742 sq ft

1,834 sq m

SECTOR

Commercial property for sale

Key features

• Opportunity to acquire a well-located South Coast multi let logistics/ industrial investment - Located on the principal Industrial Estate in Chichester
• Flood Risk Zone 1 (low probability)
• The property was newly developed in approximately 2000 and is let to 2 companies
• Total floor area of 19,742 sq ft (1,834 sqm) on a site of 0.95 acres (45%) with 39 parking spaces
• Unit 1 is let to BECKTECH LIMITED who have D&B rating of 1A 3 and are on a 10 year FRI lease expiring 28.09.2032 at a passing rent of £100,000 pax (£8.26 psf overall)
• Unit 2 is let to PRO-ACTIVE BUSINESS INFORMATION LIMITED, D&B rating of A2, regeared rent of £48,000 pax (£10 psf overall on adjusted floor area) effective from 20.11.2024 (TOB 18.05.2027)
• Long Leasehold Interest expiring 25.12.2150 (over 126 years unexpired)
• Total Gross Income £148,000 per annum (ground rent payable £9,100) with Net Receivable Rent being £138,900 pax
• Average Weighted Unexpired Lease Term (AWULT) of just over 7 years
• Price £1,700,000, which reflects a net initial yield on the net income of 7.7% and which represents a Capital Value of £86.50 psf

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