Industrial

Wollaston Industrial Park, Wellingborough NN29 7RG

 

Price: £7,240,000 - Initial Yield:7.40%

Date: Q3 2019

Acting on behalf of Eskmuir Properties we advised on the sale of this multi let industrial estate to Chancerygate for £7.24m, reflecting a net initial yield of 7.40% and a capital value of £57 per sq ft.

Wollaston Industrial Estate is situated to the south of the town centre and is the primary industrial offering for the town. The property comprises two adjoining industrial estates on William’s Way and Raymond Close providing a total of 127,542 sq ft (11,849.04 sq m) across 15 units. The estate has recently been refurbished at a cost of over £1.3m. Fully let to thirteen tenants generating a total rental income of £571,117 per annum, equating to a low average overall rent of £4.48 per sq ft. The property benefits from an AWULT of 4.67 years to expiry and 2.17 years to break. Approximately 74% of the income is secured to tenants with a ‘minimum’ risk or ‘Lower than average’ risk of business failure.

Contact

Simon Lewis

Tel: 020 7493 3330
Mob: 07831 527 960
slewis@lewisellis.co.uk

David Kos

Tel: 020 7493 3330
Mob: 07709 813267
dkos@lewisellis.co.uk


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