1-3 Baynes Place, Chelmsford, CM1 2QX

SIZE AVAILABLE

40,856 sq ft

3,796 sq m

SECTOR

Out-of-town retail property for sale

USE CLASSUse class orders: B2 General Industrial

B2

Key features

• Comprises two retail warehouse units totalling 40,856 sq ft (GIA)
• Site extends to 1.47 hectares (3.64 acres) with 124 car parking spaces
• Let to Wickes Building Supplies Limited and SEH BAC Limited and Eastern Power Networks Plc (peppercorn rent), producing a total income of £770,000 per annum, equating to £18.84 psf overall
• Unit 1: Wickes Building Supplies Limited (D&B 5A1) occupies on a 10 year lease expiring 30 March 2033 at a rent of £600,000 per annum (£16.59 psf), with a fixed uplift to £678,884.93 per annum
• WAULT of 8.92 years to expiry and 6.55 years to break
• 78% of the income let to a 5A1 covenant
• We are instructed to seek offers in excess of £10,000,000, subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 7.22% and a capital value of £244.76 psf
• New key point...

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