Investment Sale Unit 4 Gallowfields, Fairfield Way Gallowfields Trading Estate, Richmond DL10 4TB
£1,200,000
£56.48 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
21,245 sq ft
1,974 sq m
- SECTOR
Light industrial facility for sale
Key features
- North Yorkshire Industrial Investment
- Let to Three Established Tenants
- Total Net Income £106,323 pax
- Reversionary Income
- Low Income Passing Rent
- CPI rent review on the main tenant
- All leases contracted outside the Act
- Low Capital Value of £56.50 per square
- Net Initial Yield of 8.36% (after costs)
- and with rents “topped up”
Description
The property is located in the south eastern corner of the Gallowfields Trading Estate, fronting Racecourse Road on an island site. Gallowfields Trading Estate is an established and popular industrial location situated on the northern edge of Richmond. It is approximately 1 mile north west of Richmond, 12 miles south west of Darlington and 50 miles south of Newcastle upon Tyne. It is situated in close proximity to the A1(M) north and south and A66 west.
1960’s and then extensively refurbished in the 1990’s. The site slopes downward from north to south so the main warehouse over-sales smaller lower ground floor units. The property comprises of a steel portal frame with brick and metal cladding elevations, insulated profile metal sheet roof with roof lights. To the front is a surface car park. The adjacent veterinary practice owns the lower section of the car park. The parties have shared the car park and access in common to date.
The property occupies a site of approximately 0.322 ha (0.8 acres). Site cover of approximately 56%. Racecourse Road is an adopted highway whilst Fairfield Way is not.
PRICE
Pricing £1,200,000 exclusive subject to contract. Net initial yield of 8.36% with rent topped up. Assuming a purchaser’s
acquisition costs of 5.93%. It is envisaged that the sale will be treated as a transfer of a going concern (TOGC).
TENANT COVENANT
EASBY ELECTRONICS
The Easby Group made up of Easby Electronics and Delta
Impact, an independent distributor and service partner with
over 70 years of combined customer engagement. The Group
offers design-led solutions to strategic end markets adding
value through technical, service and logistical solutions
including the EV Markets. Their manufacturer network, nongeneric product lines and scale add choice to their customers supply chain. The Group is supported by the warehousing in Richmond and the South, along with a dedicated warehouse located in Hong Kong to support far-eastern engagements.
GREENSLEAVES
Greensleeves was originally owned and run by John
Green and his wife. In 2014 he retired and handed over to
Alex Caffery. Alex has trained under John Green and has
extensive knowledge of different framing and mounting
techniques. Since 2014 Greensleeves has expanded their
range having over 200 frames and 40 mounts on display in
store. They modernised their gallery space and now feature
a range of artists and artisans in various mediums including
photography, woodturning, digital art and cross stitch. With
a constantly changing collection it is certainly worth calling in
to see what is on display.
STARLESS RIVER
Starless River has been selling caving gear since 2009 and have a wide range of equipment in the UK. They are the sole UK importers for some European brands such as MTDE. They also operate a traveling shop which visits the main caving areas of the UK and Ireland posting their whereabouts every weekend allowing customers to try on suits and harnesses for fit and comfort.
Accommodation:
Warehouse 4A & 4B: 17,949.00 sqft
Unit 4C: 1,142.00 sqft
Unit 4D: 2,154.00 sqft
Total: 21,245.00 sqft
1960’s and then extensively refurbished in the 1990’s. The site slopes downward from north to south so the main warehouse over-sales smaller lower ground floor units. The property comprises of a steel portal frame with brick and metal cladding elevations, insulated profile metal sheet roof with roof lights. To the front is a surface car park. The adjacent veterinary practice owns the lower section of the car park. The parties have shared the car park and access in common to date.
The property occupies a site of approximately 0.322 ha (0.8 acres). Site cover of approximately 56%. Racecourse Road is an adopted highway whilst Fairfield Way is not.
PRICE
Pricing £1,200,000 exclusive subject to contract. Net initial yield of 8.36% with rent topped up. Assuming a purchaser’s
acquisition costs of 5.93%. It is envisaged that the sale will be treated as a transfer of a going concern (TOGC).
TENANT COVENANT
EASBY ELECTRONICS
The Easby Group made up of Easby Electronics and Delta
Impact, an independent distributor and service partner with
over 70 years of combined customer engagement. The Group
offers design-led solutions to strategic end markets adding
value through technical, service and logistical solutions
including the EV Markets. Their manufacturer network, nongeneric product lines and scale add choice to their customers supply chain. The Group is supported by the warehousing in Richmond and the South, along with a dedicated warehouse located in Hong Kong to support far-eastern engagements.
GREENSLEAVES
Greensleeves was originally owned and run by John
Green and his wife. In 2014 he retired and handed over to
Alex Caffery. Alex has trained under John Green and has
extensive knowledge of different framing and mounting
techniques. Since 2014 Greensleeves has expanded their
range having over 200 frames and 40 mounts on display in
store. They modernised their gallery space and now feature
a range of artists and artisans in various mediums including
photography, woodturning, digital art and cross stitch. With
a constantly changing collection it is certainly worth calling in
to see what is on display.
STARLESS RIVER
Starless River has been selling caving gear since 2009 and have a wide range of equipment in the UK. They are the sole UK importers for some European brands such as MTDE. They also operate a traveling shop which visits the main caving areas of the UK and Ireland posting their whereabouts every weekend allowing customers to try on suits and harnesses for fit and comfort.
Accommodation:
Warehouse 4A & 4B: 17,949.00 sqft
Unit 4C: 1,142.00 sqft
Unit 4D: 2,154.00 sqft
Total: 21,245.00 sqft
Brochures
Investment Sale Unit 4 Gallowfields, Fairfield Way Gallowfields Trading Estate, Richmond DL10 4TB
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Leyburn Station7.7 miles
About Connect Property North East Ltd, Stockton-On-Tees
4 Halegrove Court Cygnet Drive Preston Farm Business Park TS18 3DBNotes
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