Bar Lane Industrial Park, Basford, NG6 0JA

Location
The estate is situated in the well established Basford area of Nottingham which is immediately to the north of the city centre and just 3 miles from Junction 26 of the M1 motorway via the Nuthall Road (A610).

Description
Well established substantial Multi Let industrial estate.

Investment Summary
- Very rare opportunity to acquire a substantial, locally dominant, multi let industrial estate with immediate asset management opportunities.

- There are 37 lettable units arranged in four distinct blocks within a total site of 7.23 acres (27% site coverage).

- The estate totals 107,251 sq ft (GIA) with units ranging from 737 sq ft to 24,814 sq ft enabling the estate to meet a wide range of occupational requirements.

- Average unexpired lease term of 1.94 years to expiries, providing an excellent opportunity to access reversion.

- Passing rent of £689,822 per annum which reflects a low passing rent of £6.05 per sq ft (excluding the income from the industrial open storage areas).

- Held Freehold

PROPOSAL
We are instructed to seek offers in excess of £6,000,000 (Six Million Pounds), subject to contract and exclusive of VAT.

A purchase at this level reflects an attractive Net Initial Yield of 10.78% assuming purchaser's costs of 6.62%.

This reflects a very low capital value of £55.94 per sq ft.

Tenure
Freehold under title number NT151727.

Service Charge
A Service Charge is levied in addition to the rent. It is currently administered by the Vendors and full details are available upon request.

VAT
We understand the property is elected for VAT, as such, it is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).

Anti-Money Laundering Regulations (AML)
In accordance with AML regulations the purchaser will need to provide information including the source of funding to complete the purchase following agreement of the Heads of Terms.

Data Room
Access to the data room will be provided upon request.