Rowms Lane Trade Park, Swinton, Rotherham, Mexborough, South Yorkshire, S64 8AA
48,571 Sq Ft (4,512.25 Sq M)
£3,500,000
Industrial
Key Features
FOR SALE - TRADE COUNTER / SHOWROOM / INDUSTRIAL INVESTMENT
MULTI LET INVESTMENT
LET TO NATIONAL ANCHOR TENANTS SUCH AS SCREWFIX, TOOLSTATION, PERRYS VAUXHALL DEALERSHIP, UNITED CARPETS
LOW SITE DENSITY OF CIRCA 29%
VARIOUS ASSET MANAGEMENT OPPORTUNITIES, INCLUDING A BREAKUP OF THE SITE & REDEVELOPING UNDERUTILISED AREAS
INVITING OFFERS OVER £3,500,000 REFLECTING AN ATTRACTIVE NET INITIAL YIELD OF 7.98% AND A REVERSIONARY YIELD OF 9.48%.
General Description
FOR SALE - TRADE COUNTER / SHOWROOM / INDUSTRIAL INVESTMENT
INVESTMENT SUMMARY
High yielding & reversionary trade park investment comprising a trade counters, car showroom and industrial units, with significant roadside frontage in a busy location.
- Tenants include Screwfix, Toolstation, United Carpets and Perrys Motors
- 4,512 Sq M (48,571 Sq Ft)
- Fully let producing £297,547 per annum exclusive providing a low average of £6.12 per Sq Ft overall
- Achievable ERV of £356,919 per annum exclusive (£7.35 per Sq Ft)
- Low site density of circa 29%
- Redevelopment potential of yard areas and underdeveloped sections of the site
- Principle location for trade in the area
- Comprising 12 units and 1 compound & a roadside car wash let to 12 tenants
- New 10-year lease extension recently completed with Perrys
- 275m of roadside frontage
- Circa 50% of the income has guaranteed index linked uplifts.
- 66% of the income from national covenants
- Break up potential
- Asset management opportunities
LOCATION
The site occupies a prime position fronting the busy (A6022) Rowms Lane, which is a short distance from the Hartley Street Roundabout. This road is a key link between Mexborough town centre and Swinton, with approximately 14,000 vehicles passing the site daily.
The property is situated in a popular location for trade counter and motor dealerships, with a number of similar occupiers located nearby, such as Howdens, Huws Gray, Sunbelt Rentals & Lidl Supermarket.
The regions motorway networks are within easy reach, with Junction 36 of the A1 and J34 of the M1 within 15 minutes drive. Rotherham city centre is 5 miles away (approximately 12 minutes), Doncaster is 7 miles away (approximately 15 minutes), and Sheffield is 14 miles away (approximately 30 minutes).
DESCRIPTION
Rowms Lane Trade Park comprises six modern trade counter style units, a car showroom with a forecourt, four industrial/workshop units, a compound/yard, and a car wash, all situated on a self-contained site. Trade units 1 to 6 are of portal frame construction under a metal sheet roof, each benefiting from a loading door on the front elevation and shared parking areas for customers and staff. To the north of the trade units is a communal tarmac car park with approximately 30 parking spaces, contributing to a total of around 60 spaces serving the trade element of the site.
Perrys occupies the majority of the southern section of the site, extending to 1.11 acres. This area includes a showroom, a workshop for car repairs, and a 0.5-acre car forecourt. The workshops occupied by Perrys have recently undergone refurbishment, including a new roof. The remaining areas comprise a car wash near the Hartley Street Roundabout, yard areas, and traditional industrial units. There are 6 access points in to site.
ACCOMMODATION
The GIA extends to 4,512 Sq M ( 48,571 Sq Ft)
The site area is 3.82 acres providing a low site density of approx. 29%
TENANCY INFORMATION
Current passing rent provides a low average of just £6.12 per Sq Ft. Total ERV £356,919 per annum exclusive providing an achievable average of £7.35 per Sq Ft. Approximately 50% of the income is index linked with guaranteed uplifts.
We consider most units to be let below the market rent, providing significant opportunity for rental growth via lease events and proactive asset management.
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 £3,500,000 reflecting an attractive net initial yield of 7.98% and a reversionary yield of 9.48%. A purchase at this level reflects a low capital value of only £72.06 per Sq Ft.
Assuming standard purchaser's costs of 6.50%.
EPC
Copies within the data room. Most EPCs are either B or C.
TENURE
Freehold.
ANTI MONEY LAUNDERING
Purchasers will be required to comply with Anti Money Laundering Regulations.
DATA ROOM
Please request access from the agent.
VAT
VAT is applicable but it is assumed the sale will be treated as a TOGC.
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