Offers in region of
£495,000
(£33.28/sq. ft)
Industrial for saleUnits 1-9, Milvale Street, Stoke-On-Trent ST6
14,875 sq. ft
Under offer
Freehold
About this property
Self-contained
Long Standing Tenants
Description
The property comprises a self-contained industrial investment let to two long standing tenants who have been in occupation for circa 20 years. Units 1-2 are occupied by gm Panels on a lease which expires in September 2026 with Units 3-9 being occupied by Ace Vauxhall Parts who are currently holding over on their lease agreement.
The total current passing rent is £46,100 per annum exclusive which breaks back to a low £3.09 per square foot overall. There is an excellent opportunity for value enhancement through asset management and a potential reversionary rent of £61,750 per annum exclusive.
A purchase at the quoting level reflects:
Net Initial Yield – 9.31%
Reversionary Yield – 12.47%
Capital Value - £33.27 per square foot
Location
The property is situated on Milvale Street in Middleport, a short distance from Burslem town centre and within close proximity of the A500 dual carriageway which provides access to the M6 motorway. Junctions 15 and 16 of the M6 are located approximately 6.3 and 6.9 miles distant respectively. Middleport Pottery is located adjacent the property.
The property comprises a self-contained industrial investment let to two long standing tenants who have been in occupation for circa 20 years. Units 1-2 are occupied by gm Panels on a lease which expires in September 2026 with Units 3-9 being occupied by Ace Vauxhall Parts who are currently holding over on their lease agreement.
The total current passing rent is £46,100 per annum exclusive which breaks back to a low £3.09 per square foot overall. There is an excellent opportunity for value enhancement through asset management and a potential reversionary rent of £61,750 per annum exclusive.
A purchase at the quoting level reflects:
Net Initial Yield – 9.31%
Reversionary Yield – 12.47%
Capital Value - £33.27 per square foot
Location
The property is situated on Milvale Street in Middleport, a short distance from Burslem town centre and within close proximity of the A500 dual carriageway which provides access to the M6 motorway. Junctions 15 and 16 of the M6 are located approximately 6.3 and 6.9 miles distant respectively. Middleport Pottery is located adjacent the property.
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Monthly repayment
£2,476 per month
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