Key Industrial Park, Fernside Road, Wolverhampton, West Midlands, WV13

LOCATION

The property is located on the Key Industrial Estate in an established industrial area approximately 2 1/2 miles east of Wolverhampton and 4 1/2 miles from Junction 10 of the M6 motorway. There are a number of other trade counters nearby such as Screwfix.

DESCRIPTION

The unit is a prominent end of terrace property of portal frame construction with brick and profile clad elevations under a profile sheet roof with a single roller shutter door to the front elevation. There are ancillary two storey offices to the front of the property which, include male and female W.C. facilities and also a kitchen. The unit has an eaves height of circa 6.2m and benefits from warm air blowers, sodium lighting and mezzanine storage to the rear with a small trade counter below. The property has parking to the front for several cars and also parking and access to the rear via a secure yard which is shared with the neighbouring units.
The tenant also occupies the adjoining unit.


COVENANT

Howdens was established in 1995 to provide trade customers with kitchens, joinery and hardware products, which are available from local stock at depots across the UK, France and Belgium. They currently trade out of more than 750 locations.
Howden Group revenue for 2022 is £2,319.0m (10.8% ahead of 2021 figures) and profit before tax was reported to be £405.8m. Source Howdens 2022 Full Year Results Summary

TENANCIES
The unit is let to Howden Joinery Properties Limited by way of a lease dated 3rd September 2021 expiring 6th October 2033. The rent is £32,500 per annum and there is an upward rent review on the fifth anniversary of the term.

VAT

TBC

ASKING PRICE

We are instructed to seek unconditional offers in excess of £675,000 (Six Hundred and Seventy Five Thousand Pounds) subject to contract and exclusive of VAT for our client's freehold interest.

LEGAL COSTS

Each party will be responsible for their own legal costs.

VIEWINGS

Viewings by appointment only. All enquiries through Agents First City 'The Property Consultancy'