Industrial & Logistics

Gemini West Business Park, 15D Europa Boulevard, Warrington, WA5 7WH

15D Europa Boulevard Warrington, United Kingdom WA5 7WH
Asking Price
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Property Reference Number 100012806884
Building Area

Property Description

The property comprises of 2 modern detached industrial units of steel portal frame construction, incorporating profile metal clad elevations and roofs.


Unit A has recently been refurbished to a very high standard, following a letting void.

The specification for each unit includes the following:


WAREHOUSE

• Eaves height of approx. 10m to the underside of the haunch

• Pitched insulated roof, incorporating translucent roof panelling

• New roof coating to Unit A (with 30 year guarantee available)

• Unit A has 3 ground level access loading doors

• Unit B has 1 ground level access loading door and 3 dock levellers

• Heating and lighting in Warehouse B

• Emergency lighting in Unit A


OFFICES / ANCILLARY

• Two storey ancillary office accommodation

• Heating and lighting

• Open plan and cellular accommodation

• Disabled access passenger lift

• Male, female and disabled WC’s


EXTERNAL

• Unit A has a yard depth of 29m

• Unit B has a yard depth of 40m

• Separate staff and visitor car parking areas

• Both units have secure perimeter metal fencing to the perimeter, together with CCTV security

Investment Highlights

• Prime industrial investment opportunity.

• Located in Warrington, in close proximity to Junction 8 and 9 of the

M62.

• Situated on the well-established Gemini West Business Park, in a

prominent position fronting Europa Boulevard.

• 2 modern self-contained units built to a high specification, totalling

73,237 sq ft (6,804 sq m).

• Unit A comprises of 24,760 sq ft (2,300 sq m) and has recently been

refurbished. Unit B comprises of 48,477 sq ft (4,504 sq m).

• Unit A is subject to an Agreement for Lease to Activate Accident

Repair Group Limited, for a 10 year FRI term at an agreed rent £173,320

per annum, reflecting £7.00 per sq ft.

• Unit B is let to IKEA Limited, on an FRI lease expiring on 24 June 2025, at

a passing rent of £311,138 per annum, reflecting £6.43 per sq ft.

• Total rent receivable will therefore be £484,458 per annum, reflecting a

low average rent of £6.62 per sq ft.

• Total ERV of £512,659 per annum, reflecting an overall rent of £7.00 per

sq ft.

• Site area of 4.26 acres representing a site density of 38%.

• Freehold.

• We are instructed to seek offers in excess of £7,900,000 (Seven Million,

Nine Hundred Thousand Pounds) subject to contract and exclusive of

VAT.

• A purchase at this level reflects an initial yield of 5.74% and reversionary

yield of 6.00%, after the deduction of purchaser’s costs of 6.67% with a

capital value of £108 psf.

Last Updated Date: 16 Feb 2021
Edward Blood
Edward Blood
Director - Capital Markets
James Porteous
James Porteous
Director - Capital Markets

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Last Updated Date: 16 Feb 2021

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