Units 11 12 And 13, South View Estate, Willand, Cullompton, Devon, EX15 2QW

The property consists of a modern industrial premises with warehouse accommodation, manufacturing facilities and offices over three interconnected units (Unit 11, 12 and 13 extended). The tenant is also in the process of building and occupying a new 7,373 sq ft warehouse located to the north of the existing premises. The tenant has fitted internal mezzanine floors that haven't been included in the overall size due to their bespoke nature to the occupier.

Each unit benefits from double loading bays, electric roller shutter doors, power brushed concrete floors and high eaves height. The units also provide a good turning circle for deliveries with concrete yard for loading and parking. There is also a dedicated area for staff parking which leads to the front reception on the ground floor and further offices on the first floor level.

The property as a whole is occupied by Western Commodities and is utilised as their main manufacturing and distribution hub nationally.

Location

Willand is a civil parish located in Mid Devon approx. 12 miles north of Exeter, 1.5 miles from Cullompton and approx. 64 miles South from Bristol. The location benefits from its close proximity to Tiverton Parkway train station which provide regular services to Bristol and London.

The property is located in South View Industrial Estate on the edge of Willand, 20 minutes drive northeast of Exeter and just off the M5 at junction 27. The location is renowned for commercial and logistics with the adjacent Mid Devon Business Park spanning 15 acres situated next to South View and Hitchcocks Business Park approximately 90 acres providing a hub of activity in the location

Accommodation

All areas are approximate and measured in accordance with the RICS Property Measurement (2nd Edition) and provide the following approx. areas below on a GIA basis.

Unit 13:
Ground floor 1848.23 sq m (19,894 sq ft)
First floor 148.86 sq m (1,601 sq ft)
Mez 1 - -
Mez 2 - -
Lean-to-store 334.81 sq m (3,604 sq ft)

Unit 12:
Ground floor 981.97 sq m (10,570 sq ft)

Unit 11:
Ground floor 1259.47 sq m (13,557 sq ft)
First Floor 156.03 sq m (1,680 sq ft)

New unit to be built Completion due February 2025 684.97 sq m (7,373 sq ft)
Grand total 58,280 sq ft

Overall size: Site 2.66 acres (1.08 ha)
Site coverage 49%

Proposed Additions
A new warehouse unit measuring approx 7,373 sq ft (not yet built)

Planning application for the external unit: 21/01741/FULL

Rent / Price

We are instructed to seek offers in the region of £5,600,000 reflecting a NIY of 7.32% assuming 6.61% purchasers costs. A purchase at this level reflects a low capital value of £96 psf (on ground floor GIA).

The property is available Freehold subject to a simultaneous sale and lease back to Western Commodities on the following terms:

Tenant: Western Commodities (Company Number 04101382)
Demise: Approx. 58,279 sq ft (including the new build 7,373 sq ft unit). This does not include the mezzanines.
Term: 10/15 year term within the security of tenure provisions of the Landlord and Tenant Act 1954. Tenants Only Break: at the end of year 5 subject to 6 months prior written notice.
Rent Review Pattern: 5 yearly RPI linked Alienation:
Provision for subletting.
Repair: Full Repairing and Insuring.
Timescale: Simultaneous grant of a new lease on completion of the sale.

Services

We understand that mains electricity, water and drainage are connected to the property however these services have not been tested by the agents. Interested parties should make their own enquiries.

EPC

Unit13 - C (57)

Legal Fees

Each party to be responsible for their own legal fees in relation to this transaction.

VAT

All figures quoted are exclusive of VAT if applicable.