Located on the established Rossendale Road Industrial Estate on the outskirts of Burnley and close to both junctions 9 and 10 of the M65 motorway. A highly sought-after location, reflected by the quality of occupiers on the estate.
A modern warehouse scheme, comprising 45,730 sqft across 3 detached units.
Built to a high specification with generous concrete yards and parking areas and electric roller shutter doors.
Let to 3 tenants on 4 separate leases, producing £314,929 p.a. (£6.90psf) with a blend of OMV and RPI linked rent reviews.
Weighted Average Unexpired Lease Term (WAULT) of 8.17 years to expiry and 5.3 years to break.
A service charge is levied on all tenants to cover management and maintenance of the common external areas. The service charge amount currently is £11,200 p.a.
Freehold.
Seeking offers in excess of £4.4 million (Four Million Four Hundred Thousand Pounds) subject to contract and exclusive of VAT.
Net initial yield of 6.75% (assuming purchaser's costs at 6.75%) and a capital value of £96 per sqft.
