3 & 5 Freeston Drive, Blenheim Industrial Estate, Nottingham, NG6 8UZ
Size
39,306
Tenure
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EPC
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Parking
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- Primary use
- Light industrial
- Other use(s)
- Other
No floor / site plan
Key features
- Strategic Nottingham Location
- Excellent Transport Links
- High Quality Units with Large Yards
- Diversified Income profile
Description
The property occupies a prominent position on Freeston Drive within the well established Blenheim Industrial Estate approximately 5 miles north-west of Nottingham city centre.
Description
Comprising 39,306 sq ft across two industrial/trade counter units, the property currently produces £264,460 per annum, with an attractive WAULT of 5.22 years to expiry. The investment has also benefited from over £660,000 of recent capital expenditure, significantly enhancing the specification and presentation of the property.
- £264,460 pa passing rent (£6.73 psf).
- £294,795 pa ERV, providing clear rental reversion.
- Terms agreed with ASHI Group on a new 15-year lease to Unit 3 at £116,393 pa (£6.82 psf).
- Immediate 6.3% rental uplift on completion of the agreed Unit 3 letting.
- Improved covenant profile, with ASHI rated Very Low Risk (91A).
- Smith Brothers Stores also provides a Very Low Risk (77A) covenant.
- £446m+ combined tenant turnover assuming completion of the ASHI letting.
- Established Blenheim Industrial Estate location with excellent access to the A610 and M1 Jct 26.
- Over £660,000 of recent capital investment in the estate.
- Offers in excess of £3.3m, reflecting a 7.53% NIY and 8.39% reversionary yield.
- Attractive capital value of just £83.97 psf.
- Further potential to enhance long-term value through extension of the two long leasehold interests.
The agreed letting to ASHI provides an investor with immediate income growth and a significant improvement in covenant strength, whilst the current ERV of £294,795 provides further rental upside over the medium term.
Combined with the recent capital investment, attractive entry pricing and the property's position within one of Nottingham's established industrial locations, we believe 3 & 5 Freeston Drive represents an excellent opportunity to acquire a high-quality industrial investment with both secure income and identifiable growth potential.
EPC
Further information is available upon request.
VAT
Unit 3 is not elected for VAT. Unit 5 has been elected for VAT and part of the transaction will be treated as a Transfer of a Going Concern (TOGC).
Legal Costs
Each party to bare their own legal costs in the transaction.
- Clear height
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- Yard depth
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- Service charge
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- Business rates
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- Use class
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- Listed building
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An Energy Performance certificate helps you understand the current energy efficiency of a property.
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- BREEAM rating
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- Environmental description
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Brochure
3 & 5 Freeston Drive, Blenheim Industrial Estate, Nottingham, NG6 8UZ
About Commercial Property Partners Ltd, Sheffield
Commercial Property Partners is a private firm of advisors who specialise in the disposal, acquisition and management of all types of commercial property. With offices in Sheffield, Nottingham and London, our team has a wealth of knowledge and experience covering all sectors Office, Industrial, Retail, Development and Investment.
The strength of the business is defined by the quality and experience of the team.
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