The property comprises an extended two bay trade counter/industrial unit of steel portal frame construction with brick and blockwork elevations beneath profile metal cladding and a pitched, insulated metal clad roof. Loading is by way of ground level roller shutter doors and the units benefit from an eaves height of approximately 5 m, three phase power and demised car parking and yard areas to the front.
Units 4 and 6 have been combined and comprehensively fitted out by Fylde CNC as a precision engineering facility, including a temperature controlled metrology laboratory, ancillary offices and staff welfare accommodation. Unit 5 is fitted out as a Screwfix trade counter to the operator's standard corporate specification, with customer parking to the front.
ACCOMMODATION (approximate GIA)
Units 4 & 6 - Fylde CNC Specialists Limited - 17,654 sq ft (1,640 sq m)
Unit 5 - Screwfix Direct Limited - 4,322 sq ft (402 sq m)
Total - 21,976 sq ft (2,042 sq m)
The site extends to approximately 0.92 acres.
TENANCY
The property is let to two tenants producing £129,597 per annum, a low average rent of £5.90 per sq ft, with a WAULT of approximately 7.9 years to expiry and neither lease containing a tenant break option.
Units 4 & 6 are let to Fylde CNC Specialists Limited for 10 years from 17 February 2025. The rent is £88,270 per annum, rising to £92,684 per annum in February 2027 and £97,097 per annum (£5.50 per sq ft) in February 2028, with an open market review in February 2030. The vendor will top the rent up to £97,097 per annum from completion.
Unit 5 is let to Screwfix Direct Limited for 10 years from 9 December 2022 at £32,500 per annum (£7.52 per sq ft), with an open market review in December 2027.
Both leases are on effectively full repairing and insuring terms, with the landlord recovering insurance and estate services costs through the insurance rent and a service charge.
ESTIMATED RENTAL VALUE
Based on comparable evidence, an ERV of £6.25 per sq ft is applied to Units 4 & 6 and £8.00 per sq ft to Unit 5, equating to £144,914 per annum (£6.59 per sq ft overall) against £129,597 per annum passing.
COVENANT
Screwfix Direct Limited (Co. No. 03006378) is the UK's largest multichannel retailer of trade tools and hardware, trading from over 900 stores and a wholly owned subsidiary of FTSE 100 listed Kingfisher plc. Creditsafe score 100/100.
Fylde CNC Specialists Limited (Co. No. 05280031) provides sub-contract precision CNC machining for automotive and aerospace OEMs and Tier 1 suppliers, and has occupied the estate for two decades. It is a subsidiary of Venture Engineering Group Limited. Creditsafe score 72/100.
TENURE
Freehold, title number LA782715.
EPC
Units 4 & 6 - C. Unit 5 - B.
VAT
The property is elected for VAT and it is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).
PROPOSAL
Offers are invited in excess of £1,685,000, subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 7.24%, a reversionary yield of 8.10% after purchaser's costs of 6.18%, and a low capital value of £77 per sq ft.
ANTI-MONEY LAUNDERING
Two forms of identification and confirmation of the source of funding will be required from the successful purchaser.
Kirkham is an established market town in the Fylde district of Lancashire, approximately 8 miles west of Preston and 9 miles east of Blackpool, on the A583 linking Preston with the Fylde coast. Junction 3 of the M55 lies approximately 3 miles to the north, giving access to Junction 32 of the M6 within approximately 10 miles. Junction 2 of the M55, opened in July 2023 as part of the £200 million Preston Western Distributor, lies approximately 5 miles to the east. Kirkham & Wesham railway station is within approximately 1 mile.
Kirkham Trading Estate (also known as Kirkham Trading Park) is accessed off Freckleton Road, close to its junction with the A583, approximately 1 mile from the town centre. The estate extends to approximately 12 acres and is the principal industrial and trade location serving the town, with occupiers including Howdens, Royal Mail, Travis Perkins, Eden Farm Hulleys and a DVSA vehicle testing centre.
BAE Systems' Warton site lies approximately 3 miles to the south and Westinghouse's Springfields nuclear fuel plant approximately 2 miles to the east. Development consent for the Morgan and Morecambe Offshore Wind Farms transmission assets was granted in September 2026, with two onshore substations to be built approximately 1 mile east of the property.
