19-20 Dawkins Road, Poole, Dorset, BH15

Accessed directly from Dawkins Road, the property consists of a substantial detached industrial building offering accommodation of circa 1,150 M2 (12,400 ft²) plus mezzanine floors. Likely constructed in the late 1960s, it is formed of steel portal frame construction with brickwork walls. The roofs are pitched, double skin corrugated asbestos, with translucent panels. A high-quality new extension has been added to the rear of the unit, and windows are typically of replacement UPVC double-glazed type.

Externally, there is a small area laid to lawn with front parking adjacent. Beyond this is a tarmacadam driveway giving access to side/rear loading doors and a rear yard where there is further parking.

The property is connected to mains water, sewers, and has three-phase electricity. Extensive solar panels have been installed and generate income for the tenant.

TENURE

The property is available to purchase freehold subject to and with the benefit of a new lease.

OCCUPATIONAL LEASE

New 10-year Full Repairing and Insuring lease.

Commencing rent of £84,000 per annum, rising to £93,000 per annum at year 6.

Tenant break option at year 3 although with penalty equivalent to two year's rent payable to landlord. Rolling annual breaks thereafter.

The tenant, Denis Wick Products Limited, have been in occupation since 2008 and manufactures mutes and mouthpieces for brass instruments.

Denis Wick Products are a UK Entity and form part of Music Centre S.R.L., a large multinational music company based in Italy with subsidiaries in the USA, Canada, the UK, and Europe.

Music Centre S.R.L turnover is �13m, EBITDA �3.2m, and Net Asset Value is �46m (accounts available on request).

PRICE

£1,200,000, exclusive of VAT (Although we would expect this to be sold as a T.O.G.C.) representing a gross yield of 7% rising to 7.8% at year 5

LOCATION

Dawkins Road Industrial Estate occupies a well-established commercial position in Hamworthy, just 1.5 miles from Poole town centre and close to the Port of Poole.
The estate enjoys excellent connectivity via Blandford Road (A350), linking quickly to the A35 for access across Dorset and onward to Bournemouth, Southampton and the national motorway network.

EPC -

C-66