Bestwood Business Park, Park Road, Bestwood Village, Nottingham, NG6 8TQ
Offers in Excess of
£8,000,000
£45.42 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
176,131 sq ft
16,363 sq m
- SECTOR
Storage facility for sale
- USE CLASSUse class orders: B2 General Industrial and B8 Storage and Distribution
B2, B8
Key features
- Freehold multi-let industrial and open storage investment
- Established Midlands location - 5 miles north of Nottingham city centre with direct access to the M1 via Junctions 26 & 27
- 15.3 acres (6.12 hectares) providing a very low site density of 26.4%
- 176,131 sq ft of multi-let industrial accommodation plus 3.98 acres of income-producing secure open storage
- Multi-let to 20 tenants across 23 lettable units / IOS compounds
- Current rent passing of £770,207 per annum, reflecting a low blended rent of £3.91 per sq ft across the warehouse element
- Fixed rental uplifts to £818,761 per annum by 2028; headline ERV of £1,000,760 per annum reflecting an 11.7% reversionary yield
- All leases contracted outside the L&T Act 1954; potential for alternative use, subject to planning
- 9% NIY rising to 11.7% reversion.
- Offers are invited in excess of £8,000,000
Description
Bestwood Business Park is a freehold, multi-let industrial estate offering a mix of industrial units, ancillary offices and secure open storage. The estate has been developed in phases, with buildings primarily of steel truss frame construction and a combination of brick and steel-clad elevations. Units are finished to a traditional industrial specification, including three-phase power, roller shutter doors, WCs, yard areas and dedicated parking, with the wider site being fully surfaced, fenced and gated.
The principal warehouse buildings range in size from 1,000 sq ft to 34,000 sq ft, with some units combining to create larger overall demises catering to a broad range of SME occupiers. The remainder of the site comprises approximately 4 acres of secure, surfaced and fenced open storage compounds, currently let to a range of regional logistics, recycling and storage operators.
In total the property provides 176,131 sq ft of multi-let industrial accommodation together with 3.98 acres of income-producing secure open storage, across a site of 15.3 acres (6.12 hectares) providing a low site density of 26.4%.
The estate is multi-let to 20 tenants across 23 lettable units / IOS compounds, producing a current rent passing of £770,207 per annum, reflecting a low blended rent of £3.91 per sq ft across the warehouse element. Contractual fixed rental uplifts increase the passing rent to £818,761 per annum by 2028 (a running yield of 9.60%), and there is significant reversionary potential with a headline Estimated Rental Value of £1,000,760 per annum, equating to a reversionary yield of 11.7%. All leases are contracted outside the security of tenure provisions of the Landlord and Tenant Act 1954.
Bestwood Business Park also benefits from a lapsed planning consent for residential redevelopment of 220 homes (including 7.5% affordable housing), with the local planning authority in principle supportive of residential redevelopment of the site (all prospective purchasers to make their own enquiries with the local authority).
The property is located off Park Road, 5 miles north of Nottingham city centre, adjacent to the B683. The estate benefits from excellent connectivity, with access to the M1 motorway approximately 4 miles away via Junctions 26 and 27, linking to the wider national motorway network and the key logistics corridors of the East Midlands.
Bulwell railway station lies less than two miles to the south, providing regular services into Nottingham city centre and the wider Midland Mainline network. East Midlands Airport, one of the UK's most important air-freight hubs, is located approximately 15 miles to the south.
Situated in Bestwood Village, the property is surrounded by a mixture of uses including light industrial, smaller scale distribution, leisure and residential. Nearby occupiers include a range of national and regional industrial, trade-counter and last-mile distribution operators. The estate benefits from a population of 4.85 million people within a 60-minute drive time.
The principal warehouse buildings range in size from 1,000 sq ft to 34,000 sq ft, with some units combining to create larger overall demises catering to a broad range of SME occupiers. The remainder of the site comprises approximately 4 acres of secure, surfaced and fenced open storage compounds, currently let to a range of regional logistics, recycling and storage operators.
In total the property provides 176,131 sq ft of multi-let industrial accommodation together with 3.98 acres of income-producing secure open storage, across a site of 15.3 acres (6.12 hectares) providing a low site density of 26.4%.
The estate is multi-let to 20 tenants across 23 lettable units / IOS compounds, producing a current rent passing of £770,207 per annum, reflecting a low blended rent of £3.91 per sq ft across the warehouse element. Contractual fixed rental uplifts increase the passing rent to £818,761 per annum by 2028 (a running yield of 9.60%), and there is significant reversionary potential with a headline Estimated Rental Value of £1,000,760 per annum, equating to a reversionary yield of 11.7%. All leases are contracted outside the security of tenure provisions of the Landlord and Tenant Act 1954.
Bestwood Business Park also benefits from a lapsed planning consent for residential redevelopment of 220 homes (including 7.5% affordable housing), with the local planning authority in principle supportive of residential redevelopment of the site (all prospective purchasers to make their own enquiries with the local authority).
The property is located off Park Road, 5 miles north of Nottingham city centre, adjacent to the B683. The estate benefits from excellent connectivity, with access to the M1 motorway approximately 4 miles away via Junctions 26 and 27, linking to the wider national motorway network and the key logistics corridors of the East Midlands.
Bulwell railway station lies less than two miles to the south, providing regular services into Nottingham city centre and the wider Midland Mainline network. East Midlands Airport, one of the UK's most important air-freight hubs, is located approximately 15 miles to the south.
Situated in Bestwood Village, the property is surrounded by a mixture of uses including light industrial, smaller scale distribution, leisure and residential. Nearby occupiers include a range of national and regional industrial, trade-counter and last-mile distribution operators. The estate benefits from a population of 4.85 million people within a 60-minute drive time.
Brochures
Bestwood Business Park, Park Road, Bestwood Village, Nottingham, NG6 8TQ
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Moor Bridge Tram Stop0.7 miles
- Bulwell Forest Tram Stop1.3 miles
- Hucknall Station1.3 miles
Notes
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