36-40 Threxton Road Industrial Estate, Watton, IP25 6NG

Description
The property comprises a detached industrial / warehouse unit of steel portal frame construction with a combination of brick and profile metal clad elevations beneath a pitched sheet-clad roof. The unit benefits from a double-height glazed entrance frontage providing access to the ground-floor office accommodation with mezzanine space above.

Location
Watton is a popular market town, located in mid Norfolk. The town benefits from a range of retail and leisure opportunities, including Lidl, Tesco, and Jewson, with a primary and secondary school. Major employees in the town include Cranswick, Exheat and Wincanton. The property is located on the Threxton Road Industrial Estate.

Terms
The property is offered for sale on a freehold basis, subject to the current 10-year lease. The lease expires 18th June 2034, and has a tenant break at the end of the 5th year ( 18th June 2029). The lease is FRI, subject to a schedule of conditions. The passing rent is £34,200 per annum, which in our opinion is reversionary. The lease is outside the security of Tenure of the Landlord and Tenant Act. At the asking price of £380,000, the net initial yield is 8.65% ( allowing for purchasers' costs of 1.8% plus stamp duty).

Legal Costs & Anti-Money Laundering
Each party is to be responsible for their own legal costs incurred in the transaction. In accordance with the latest Anti-Money Laundering Legislation, the purchaser will be required to provide proof of identity and address and source of funding to the selling agents prior to solicitors being instructed.