Property for sale

Stoke House, Stubley Lane, Dronfield S18

Description

The property comprises a factory unit which has been split into 10 separate units. It is understood the factory was built in the latter part of the 20th century. The building is of brick and block construction.

The factory unit has been split into units of a range of sizes, between around 1,000 sq ft and 2,500 sq ft, with most between 1,000 sq ft and 1,500 sq ft. The units benefit from roller shutter doors of various width sizes, with a height of approximately 3.14m, 3-phase (in most units), eaves height of between 3.5m to 3.76m, concrete floors, and strip lighting. Some units benefit from self contained toilet and kitchenette facilities. There is a communal toilet block at the end of the building. All units have electric & water meters installed in each respective unit.

Externally there is a service yard providing front and rear access as well as vehicle / pedestrian access.

There is an area of storage land which has been used for landlord storage, which will be offered vacant and may have potential to generate additional income.

The site is almost L-shaped, with a strip of land extending to Stubley Lane for services. Access to the site is via Stubley Lane and via the Gunstones Bakery access. Site area of 0.948 acres (0.384 ha).

Location

The property is located off Stubley Lane in the Dronfield area of North East Derbyshire. The property is accessed through Gunstones Bakery and then around to exit to Stubley Lane. The location is on the boundary between Sheffield and Chesterfield, within a suburban area.

Gunstones Bakery is the immediate neighbour, and the area is mainly residential, although within the area there are a number of other commercial occupiers including a nursery school, dental practice, Sainsburys, and various light industrial, workshop and office occupiers.

Tenure

Freehold (new title number tbc), subject to the existing tenancies.

Tenancy Details / Rental Income

The property is fully let to established long standing tenants, subject to lease agreements, producing a total income of £47,796 pa. We are informed all tenants are holding over on periodic tenancies. Further details are available by request.

Asset Management Potential

In our opinion given the demand of the local industrial letting market, the rental levels should have scope for a potential uplift from the current levels. The majority of rents are under £4 sq ft. There is also an area of land which could be utilised or let out to increase the income.

We would advise interested parties to make their own enquiries with their professional advisers on this matter.

Price

£700,000. The VAT status is to be confirmed.