Offers over
£4,200,000
(£51.34/sq. ft)
Property for saleVerwood Industrial Estate, Black Hill, Verwood BH31
81,807 sq. ft
About this property
Strategically located and prominently situated in Verwood, providing strong road connectivity via the A31 and onwards to M27 and M3 to Bournemouth, Ringwood and the wider South and South East
Comprises 81,807 sq ft gia across 9 units and occupying substantial 5.37 acre site, representing a low site cover of 35%
Freehold
Majority let to Verplas Ltd on 7 co-terminus leases expiring June 2030, with a local car garage operator occupying one unit, currently holding over
Total passing rent of £387,850 pax, equating to a low £5.04 per sq ft, for the industrial element with an outstanding rent review to Verplas Ltd from 24 June 2025 providing the opportunity for immediate reversion
Opportunity for redevelopment to a variety of alternative uses, subject to planning
We are instructed to seek offers in excess of £4,200,000 (Four Million Two Hundred Thousand Pounds) subject to contract and exclusive of VAT
A purchase at this level reflects an attractive Net Initial Yield of 8.67% (assuming purchasers’ costs of 6.25%) and a low capital value of £51 per sq ft overall
The property comprises a 1960s industrial estate, arranged as nine terraced units of steel portal/truss construction with blockwork elevations, arranged under a mixture of asbestos and steel profile roofs, a number of which have been overclad.
The site includes Verwood Sports and Social Club, located at the Eastern boundary of the site, which is currently vacant.
Location
Verwood is a well-established town in East Dorset, strategically positioned close to the Hampshire border and benefiting from proximity to major South Coast conurbations.
The town lies 5 miles north-west of Ringwood, 10 miles north of Bournemouth, 18 miles southwest of Southampton, 20 miles south of Salisbury and 100 miles south west of London.
Verwood benefits from good road connectivity. The B3081 provides a direct route south to Ringwood, connecting with the A31, which in turn links to the M27 and M3 providing access to Southampton, Portsmouth and London. To the west, road connections link into the wider Dorset network, including Poole and Weymouth.
The subject property is prominently situated in the centre of Verwood, accessed via two points of entry directly from Black Hill Road and Sandy Lane. Black Hill provides direct access to the B3081, which connects south to Ringwood and the A31, a key arterial route linking to the M27 and M3 corridors.
Tenancy
The property is predominantly let to a single tenant, Verplas Ltd, who occupy 7 of the 9 units, representing 88% by floor area, on individual co-terminus leases expiring 23 June 2030 at a total passing rent of £357,850 pax. There is an outstanding rent review in relation to these leases, dated 24 June 2025. Verplas Ltd had a tenant only break option in June 2025 which was not exercised. All these leases are outside of sections 24-28 of the 1954 L&T Act.
Unit 4 is let to Champion Trading Co Ltd, operating as a local car garage, currently holding over at £30,000 pax. The lease is Inside the 1954 Act.
Unit 1, previously occupied as a social club, is vacant.
The total rent therefore is £387,850 per annum equating to a low overall rent of £5.04 psf on the industrial element providing a buyer with immediate opportunity for reversion.
Planning
The property is situated within the defined settlement boundary of Verwood, in a predominantly residential area, and is considered well positioned for redevelopment, subject to planning.
The site is broadly unconstrained, with no Green Belt or landscape designation, and located within Flood Zone 1, making it suitable for a range of alternative uses, including residential redevelopment, employment uses, retail, trade counter or specialist residential.
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