For SaleWarehouseUnverified

High-yielding Long Income Industrial Investment.

Prospect Works, Huddersfield, West Yorkshire HD4 5AZ

CommercialUK

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Price
£3,750,000
Size
143,614 sq ft
Tenure
freehold
Listed
Today

Property Description

• High-yielding industrial investment located approximately 1.4 miles south of Huddersfield town centre. • Industrial complex comprising 4 blocks with a GIA of 143,614 sq ft across two adjoining sites either side of Howarth Lane. • Combined site area of 5.52 acres (2.23 hectares). • Wholly let to David Brown Santasalo UK Limited by way of a 25 year lease expiring September 2047, subject to tenant break options in September 2037 and September 2042. • Thereby providing approximately 22 years to lease expiry and 12 years to the first break. • Low passing rent of £315,000 per annum reflecting £2.19 psf. • Open Market Rent Reviews (5 yearly) subject to a minimum uplift at first review in September 2027 to £362,250 per annum reflecting £2.52 psf. We are instructed to seek offers in excess of £3,750,000 (Three Million Seven Hundred & Fifty Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level provides a Net Initial Yield of 7.89% and a minimum reversion to 9.07% in September 2027 and a low capital value of £26 psf.
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K
Knight Frank - Richard Brooke

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