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Commercial Property for sale

Heathlands Industrial Estate, Station Road, Liskeard, Cornwall, PL14

Sold by Us £1,325,000
19,348 sq. ft.

Property Description

Key features

  • INDUSTRIAL AND OFFICE INVESTMENT
  • NET INITIAL YIELD 8.0%
  • PRICE 1,325,000
  • MIX OF NATIONAL, REGIONAL AND LOCAL TENANTS INCLUDING THE NHS.

Full description

Tenure: Freehold

Heathlands Industrial Estate comprises of a mix of industrial and office units arranged in separate blocks with communal parking areas on site. In addition to the communal parking area there is an allocation of demised spaces to each unit the investment opportunity comprises a range of industrial and office premises.

The breakdown of the space comprises 13 industrial units with 11 tenants and a detached office building with 2 tenants.

The industrial space is of rendered brick construction with 10 units providing a minimum height of approximately 3.6 metres to the eaves and 3 units at 6 metres to the eaves. The industrial units have had the render, windows, doors, fascias and roller shutter doors recently re-painted.

The separate office accommodation comprises of a single storey building which provides modern office accommodation. There are 2 tenants within the offices. Each office unit has their own separate entrance through double doors from the car park. Internally the office are mainly open plan. The accommodation benefits from suspended ceilings, Category 2 lighting, perimeter trunking, aluminium coated in uPVC double glazed windows and combined air conditioning and heating units. Within each suite there are separate ladies, gents and disabled toilets and kitchens are supplied to the rear of each of the suites.

Asset Summary

Liskeard is a market town in south east Cornwall.
Heathlands Industrial Estate is one of the principal trading estates within the market town.
A majority of the industrial accommodation has recently been refurbished.
Mix of blue chip, regional and local occupiers including NHS.
The premises are granted on equivalent full repairing and insuring terms.
The estate comprises a total of 19,348 sq ft.
The current rent passing is £112,600. ERV £118,300.
Freehold disposal.

We are instructed to seek offers, subject to contract, of £1,325,000 reflecting a net initial yield of 8.0% and a Reversionary Yield of 8.42% assuming purchaser's costs of 6.02% .

Capital value of £68.48 per sq ft.


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