FORMAL TENDER OFFERS REQUIRED BY 12.00 NOON FRIDAY 11TH FEBRUARY 2022
The Property comprises a prominent and good quality industrial warehouse estate.
The Property is located on the popular Woodbridge Road Trading Estate.
Multi-let industrial accommodation comprising 6 units together with 2 parcels of (surfaced) land for open storage. The built accommodation totals 1,438.84 sq m (15,456 sq ft).
The Property is located within proximity of the A52 and A17 leading directly to the A1 motorway, situated 16 miles to the west.
The Property is held freehold subject to the individual leases attached.
The Property is let to 7 individual tenants generating a rent of £58,668 per annum, equating to a low overall passing rent of £3.65 per sq ft across the industrial units.
Site area of circa 1.97 acres (0.80 hectares) (stss) with a low site coverage of only 20% approximately.
Location
Sleaford is a popular market town with good range of local amenities and facilities to include retail outlets, banks, restaurants, doctors, dentists, various schools, sports and leisure clubs.
According to the 2011 census the town had a population 17,621.
The AA15 and A17 main roads by-pass the town and provide useful road links. The town has a railway station, which is located on the Skegness to Nottingham line. Connections can be made from Grantham onto the east coast main line to London’s Kings Cross.
More major amenities and facilities can be found in the city of Lincoln approximately 17 miles (27 km) to the north and the market towns of Grantham, Newark, and Boston, all within a 20-mile (32km) radius.
Accommodation
The Gross Internal Floor Area totals 1,438.84 sq m (15,488 sq ft).
The Property is let to 7 individual tenants generating a rent of £58,668 per annum, equating to a low overall passing rent of £3.65 per sq ft across the individual units.
A full tenancy schedule can be provided to any interested parties.
Tenure
The Freehold interest in the Property is available for sale subject to the individual leases attached and contract.
VAT will not be charged in addition to the sale price
EPC’s can be provided to any interested parties.
Specification
For further information, please register to the Agents’ Data Room which contains full lease information and sales pack. Registration can be made by contacting Derrick Wade Waters or Pygott & Crone.
Proposal
Offers in excess of £800,000 (Eight Hundred Thousand Pounds) for the Freehold interest subject to contract.
A purchase at this level reflects an attractive New Initial Yield of 7% (assuming standard purchasers’ costs) with future development potential.