Property overview

Unit J, Hornbeam Business Park, North Walsham, Norfolk NR28 0FX

sold

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£400,000
Oct 2024

Trade counter investment opportunity located on established modern trade park, Hornbeam Business Park.

 

Other occupiers on the development include Screwfix, Toolstation, Howdens and Stuff Self Storage.

 

Semi detached unit built in 2023 totalling 2,821 sq ft with 4 allocated car spaces.

 

EPC – A.

 

The property is let to Motor Parts Direct Ltd on a 10 year FRI lease from October 2024. The tenant has an option to break at the expiry of the 5th year, with 6 months prior notice required.

 

The rent passing is £28,000 per annum. The lease has an open market review at the expiry of the 5th year.

 

We are instructed to seek offers in excess of £400,000 (Four Hundred Thousand Pounds) subject to contract and exclusive of VAT.

 

A purchase at this price would reflect a net initial yield of 6.72%, assuming costs of purchase of 4.26%.

 

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