Units 5, 6 & 7 Station Buildings
- An unusual opportunity to purchase a fully let, income producing investment comprising of a terrace of 3 industrial units extending in total to 2,700 sq ft (250.8 sq m).
- Currently producing an income of £14,520 per annum. Asking price of £165,000, equating to a gross return of 8.8%.
The subject property is located at the end of Station Road which is directly off the A549 on the outskirts of the town of Buckley, Flintshire. The town of Penymynydd is also within approximately 1 mile. The property benefits from good road links with the junction of the A459 and the A500 and North Wales Expressway being with approximately 1.5 miles. The units are located directly adjacent to Buckley Station in a small complex of industrial units, workshops and showrooms.
The subject property comprises a terrace of 3 small industrial units / workshops which have been constructed out of steel clad elevations with full height internal breeze block walls, solid concrete floors, florescent strip lighting and both a pedestrian door and timber sliding access door to the front elevation of each unit. All three units are very similar in terms of the accommodation they provide internally, with a large open plan warehouse / workshop area, office, tea point / kitchen and WC facilities.
Externally, and directly to the front of the units, is allocated car parking. A particular feature is additional car parking / storage land with each unit having its own allocated area as shown on the photographs.
The property has been measured on a Gross Internal Area basis in accordance with the RICS Property Measurement 1st Edition:
Unit 5: 900 sq ft (83.6 sq m)
Unit 6: 900 sq ft (83.6 sq m)
Unit 7: 900 sq ft (83.6 sq m)
Total: 2,700 sq ft (250.8 sq m)
We are advised that the property is held freehold.
Offers in the region of £165,000, which based on the current rent receivable equates to a gross yield of 8.8%.
All three units are currently let on the landlord’s basic standard rental agreement which is on a month by month basis, copies of which are available upon request.
Unit 5 is let at a rental of £350 per month and Units 6 & 7 are let at £430 per month each, equating to a total rent of £1,210 per month and £14, 520 per annum.
All figures and prices quoted are exclusive of, and liable to, VAT at the standard rate prevailing.
The Valuation Office Agency Website (www.gov.uk/correct-your-business-rates) has a current Rateable Value assessment of:
Unit 5 £2,750
Unit 6 £2,700
Unit 7 £2,900
As the Rateable Value for each unit is below £12,000 a tenant may be eligible for 100% Small Business Rates Relief meaning no Business Rates are payable.
Please contact the business rates department directly for confirmation.
Each party is to be responsible for their own legal costs incurred in the transaction.
An Energy Performance Certificate is in the process of being prepared and is available upon request.
Please contact Jonty Goodchild of Bolton Birch:
Tel: 01244 311681