Offers over
£2,600,000
(£113.49/sq. ft)
Property for saleUnit 3-4, Red Lodge Business Park, Red Lodge Business Park, Weston-Super-Mare BS24
22,910 sq. ft
About this property
Opportunity to acquire a modern part-let terrace, prominently located adjacent to Junction 21 of the M5 Motorway
22,910 sq ft of industrial accommodation over two units
Freehold
Unit 3 is let until January 2028, producing £95,254.50 per annum - a low passing rent of £8.26 per sq ft. Unit 4 is vacant - opportunity to refurbish and let
Opportunity to agree a surrender of Unit 3
Opportunity to break up and sell off the units individually
Underpinned by vacant possession value
Seeking offers in excess of £2,600,000 (Subject to contract and exclusive of VAT), reflecting a low capital value of £113 per sq ft
The property comprises a terrace of two modern industrial units, built in 1998. The units are of brick and blockwork elevations, arranged under a pitched, insulated roof. Both units benefit from an electric roller shutter door and self-contained, concrete yard areas.
Location
Weston-super-Mare is a well-established coastal town in North Somerset, with a large resident population, a strong visitor economy and a broad local employment base serving the wider North Somerset catchment. The town forms part of the wider West of England economy, with a diverse business base across advanced manufacturing, logistics, food and drink, technology and professional services. It is a recognised focus for employment growth, underpinned by the Weston Enterprise Area, the Weston Business Quarter and its strategic position adjoining the M5 motorway corridor.
The property is situated on Red Lodge Business Park, off Warleys Lane, within an established commercial and industrial location - less than 1 mile from Junction 21 of the M5 and approximately 4 miles from the town centre, with convenient access to the A38 providing wider links towards Bristol, Bath and the South West.
The surrounding area comprises a mix of residential, industrial, trade counter, retail and roadside uses. Occupiers on the estate include Safestore and Network Rail. Nearby occupiers include Howard Tenens - occupying c. 330,000 sq ft on a substantial 15.4-acre site adjacent to the property - together with Furniture 23, Yeats Removals and LiveWest. Amenities are available at North Worle Shopping Centre, including tk Maxx, Homesense, Starbucks, Home Bargains, Lidl, Morrisons, Aldi and McDonald’s.
Other established estates nearby include Westland Distribution Park, Worle Industrial Estate and Oakwood Business Park. Weston Industrial Estate, the town’s primary industrial location, lies approximately 3 miles west, home to Brinsea Products, Famatel UK, ppg Architectural Coatings and The Parts Alliance
Specifications
Each unit benefits from the below specification:
• WC’s
• Kitchenette facilities
• Air-conditioned offices
• Suspended ceilings
• Raised floors
• Double-glazed windows
• Single roller shutter door
• Dedicated forecourt parking with 21 spaces
Tenancy
The property is part-let to one tenant. Unit 3 is let to Sash Hardware Ltd, on assignment from Deangelo Brothers UK Ltd, who in turn has sub-let to Alumet Systems (UK) Ltd on a lease expiring 24th January 2028, paying a current rent of £95,254.50 per annum, reflecting a low passing rent of £8.26 per sq ft. The lease is contracted outside the security provisions of sections 24-28 of the Landlord and Tenant Act 1954, and the tenant is not currently in occupation. Unit 4 is currently vacant.
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