Property overview

1 Daniels Way, Hucknall, Nottingham NG15 7LL

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£1,900,000
May 2022

Reversionary single let industrial investment.

 

Detached single bay industrial unit with ancillary offices totalling 26,100 sq ft located on established industrial estate close to J26 & 27 of M1.

 

Situated on a site of 1.50 acres, 36% site cover.

 

The property is let to the Mailshop Mailing Ltd on a 15 year FRI lease from 30 June 2017. The rent is currently £112,000 per annum, only £4.36 per sq ft.

 

The rent is payable monthly and is reviewable 5 yearly with the next review due in June 2022. The rent is to be reviewed to open market value.

 

Additional £4,250 income from telecommunications mast – let to Cornerstone Telecommunications Infrastructure Ltd.

 

Offers are sought in excess of £1,900,000. This shows an initial yield of 5.75%. Based on ERV there will be a reversion to 7.20% from June 2022.

 

This also reflects an underlying capital value of only £70 per sq ft.

 

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St Pauls Office Investments Retail & Retail Warehousing investments