Overview:
Investment opportunity purchased from a private investor in September 2018. The property comprises 3 small industrial units extending to between 3,230 sq ft and 3,445 sq ft, together with a detached office building of 6,953 sq ft. A total floor area of 16,858 sq ft.
The buildings were let in their entirety to Newson Gale Limited for a period of 5 years from March 2017.
The purchase was underpinned by its replacement cost and future ‘break up’ value. It was also under-rented. At expiry in 2022, a new 5-year lease was agreed with rental uplift, adding value.
