Waterside Business Park, Redwall Close, Dinnington, Sheffield, South Yorkshire, S25 3QA

Key Features

General Description

FOR SALE - REVERSIONARY BUSINESS PARK INVESTMENT

INVESTMENT SUMMARY
High yielding & reversionary business park investment with 70% of the income generated from the industrial units. The estate comprises a terrace of three industrial/warehouse units, a single detached unit with cranage and a detached a office block.

- Fully let generating £103,784 per annum exclusive reflecting a low rent of £6.31 per Sq Ft
- 1,526.86 Sq M (16,435 Sq Ft) on 1.03 acres
- ERV of £132,626 per annum exclusive (£8.07 per Sq Ft)
- Excellent potential for rental growth with rents as low as £4.86 per Sq Ft with the average industrial rent only £5.63 per Sq Ft
- Industrial rent accounting for 70% of the income
- 77% of income index linked with 65% of the income with annual index uplifts
- Low site density of circa 36%
- Established business location circa 2.5 miles from J31 of the M1
- Asset management opportunities

LOCATION
The property is situated approximately 2.7 miles from Junction 31 of the M1 motorway, west of Dinnington town centre, and lies 15 miles east of Sheffield and 12 miles southeast of Rotherham.

Waterside Business Park is located within a well established commercial location, benefiting from excellent road access with links to the Junction B6463 Todwick Road leading towards the A57 and Junction 31 of the M1 and the B60 Station Road which links Thurcroft and the M18. This makes Sheffield city and the wider Sheffield region easily accessible.

Dinnington is an established commercial location home to a mixture of occupiers including Screwfix, DHL Parcel UK, Macalloy and Granada Glazing. In recent years, industrial and warehouse developments, such as the nearby Atomic 31 development, have revitalised the town's commercial offerings.

DESCRIPTION
Waterside Business Park is a principally a self contained multi-let industrial estate in an established location, comprising a terrace of four modern industrial units, a detached industrial unit and a detached two storey modern office block. The buildings extend to 1,526.86 Sq M (16,435 Sq Ft) sitting on 1.03 acres, providing ample circulation space and external areas in a concreted yard area.

Units 3A to 3D - Three Unit Terrace
Modern, good quality space offers individual units ranging from 800 Sq Ft to 2,524 Sq Ft with electric loading door access, office/mezzanine areas and eaves height of up to 7m. The units are let to three tenants.

Unit 2 - Detached Unit
Steel portal frame building with brick two storey office block. Internally providing an open plan workshop/warehouse with staff facilities and offices. There is a 5 tonne crane in situ.

Pheonix House Offices
Modern two-story offices with a central shared staircase and lift access. The ground floor contains one office suite, while the first floor is divided into two suites. All suites benefit from air-conditioned, open-pl

TENANCY INFORMATION
Current passing rent of £103,784 per annum exclusive provides a low average of just £6.31 per Sq Ft. Total ERV £132,626 per annum exclusive providing an achievable average of £8.07 per Sq Ft.

A service charge is in place to cover the communal and external areas of the estate.

Key Tenancy Statistics
- 70% of the income is industrial
- 77% of the income is RPI linked
- 65% of the income has annual RPI uplifts
- £11.25 per Sq Ft headline rent achieved on Unit 3A in August 2024
- Low average rent of £6.31 per Sq Ft over the estate with an average of only £5.63 per Sq Ft for the industrial rents

Generally, we consider nearly all the units to be let below market rent, providing an excellent opportunity for rental growth through lease events and proactive asset management. The leases are all held on effective FRI (Full Repairing and Insuring) terms by established local and regional businesses.

Full breakdown of the tenancy schedule are listed within the brochure or please contact the agents for further information.

Copy leases are available upon request.

PROPOSAL
Inviting offers over £1,200,000 reflecting an attractive net initial yield of 8.13% and a reversionary yield of 10.43%. A purchase at this level reflects a low capital value of only £73.01 per Sq Ft.

Assuming standard purchaser's costs of 5.92%

EPC
Copies within the data room. EPCs range from B to D.

TENURE
Freehold.

VAT
VAT is applicable but we expect the sale to be treated as a TOGC.

ANTI MONEY LAUNDERING
Purchasers will be required to comply with Anti Money Laundering Regulations.

DATA ROOM
Please request access from the agent.

VIEWINGS OR FURTHER INFORMATION
Get in touch with the agents below:

Ben Flint
E: ben@flintrealestate.co.uk
T: 01302 639838 / 07494735001

Alexandra De Freitas
E: alexandra@flintrealestate.co.uk
T: 01302 639838 / 07538 844869