SALE AND LEASEBACK OPPORTUNITY
- Sale and leaseback opportunity of regional distribution unit
- Detached warehouse of 61,093 Sq Ft
- The site extends to 3.1 Acre Site (STS) reflecting a site cover ratio of 42%
- The property will be let on an FRI lease to DG International Group Limited for a term of 10 years with a tenant break in year 5.
- Rent £240,000 per annum, which equates to £3.92 per sq ft overall
- Offers are invited in excess of £2,900,000 (two million,nine hundred thousand pounds). A purchase at this level reflects a net initial yield of 7.78% allowing for purchaser costs of 6.46%
The property provides a purpose built distribution warehouse, which was developed around the early 1970’s and extended around the late 1970’s. The property is part concrete frame and steel frame construction with part cavity and block work walls with steel profile cladding. The roof is covered in asbestos cement sheets panels and most of the skylights have recently been replaced.
The Unit also benefits from ground floor office and staff welfare area and extended office accommodation to the first floor. All office accommodation has undergone significant refurbishment, showing the current occupier’s commitment to the unit. A substantial mezzanine floor has been installed across 2 parts of the warehouse which will be a tenant’s fixture
- 9 Loading doors
- Secure external yard
- 4.7m to underside of haunch & 7.8m to apex
- Separate staff parking for approx. 20 cars
- Excellent road side prominence
- Potential for higher value road side uses (subject to planning)
The property is located within the town of Brandon in the county of Suffolk. Brandon has a population of 9,500 people and is located 8 miles northwest of Thetford and 5 miles northeast of RAF Lakenheath . Brandon is situated 40 miles north of Ipswich (County Town of Suffolk); 55 miles north of the Port of Felixstowe and 90 miles north of London. Brandon is located 6 miles west of the A11, which provides access to Norwich in the north and Cambridge, Ipswich and the M11 in the south. Norwich, Cambridge and the M11 are all situated 35 miles away from the Property.
The Property is situated within the main ‘out of town’ commercial area in Brandon off the busy London Road. The immediate area is occupied by a number of industrial units and some trade counter units, which are mostly occupied by local traders.
Brandon town centre is located 1 mile to the south of the Property and is mostly occupied by local traders and an Aldi food store. There is also a Tesco supermarket in Brandon.
To the north of the Property on the opposite side of London Road is some residential housing. The Property fronts onto the busy London, but the frontage of the building is mostly hidden by a row of trees.