£265,000
(£73.88/sq. ft)
Industrial for saleBudds Lane, Romsey, Hampshire SO51
3,587 sq. ft
Just added
About this property
Industrial Unit with Parking
Guide Price £265,000
Total Gross Internal Area 3,587 Sq Ft (333.22 Sq M)
Low Passing Rent £21,500 per annum
Attractive Net Initial Yeld 7.86%
Highly Reversionary
The town of Romsey is situated about 8 miles to the north-west of Southampton via the A27 and within about 2 miles of Junction 2 of the M27 motorway.
The property is situated on the established Budds Lane Industrial Estate on the northern outskirts of the town just off the A3057 Stockbridge Road.
The accommodation is arranged internally to comprise ground floor workshop premises with an office and store partitioned out, and WCs. There is a first-floor mezzanine office area.
There is an internal fire exit into a communal corridor that serves a number of units.
The unit benefits from approximately nine allocated parking spaces.
Workshop - 3,183 Sq Ft (295.69 Sq M)
Mezzanine Offices - 404 Sq Ft (37.53 Sq M)
Total Gross Internal Area - 3,587 Sq Ft (333.22 Sq M)
We believe the current permitted use to be Use Class E and Classes B2 & B8. All parties
are advised to make their own enquiries of the local authority for confirmation.
Asset Rating - E (125)
Rateable Value £22,750
Source
Offers considered in the region of £265,000 subject to contract for the freehold interest
subject to subsisting tenancy.
A purchase at this level will show an attractive net initial yield of 7.86%.
Industrial Investment Opportunity
Industrial Unit with Parking
Guide Price £265,000
Total Gross Internal Area 3,587 Sq Ft
(333.22 Sq M)
Low Passing Rent £21,500 per annum
Attractive Net Initial Yeld 7.86%
Highly Reversionary
The property is let by way of a lease dated 2nd December 2018 for a term of 10 years at
a passing rent of £21,500 per annum, expiring 1st December 2028.
The tenant is Greatbridge Motor Services Limited.
The lease is subject to an open market upward only rent review on 2nd December 2023
and a tenant break, subject to 6 months notice (now passed).
The lease is drawn on full repairing & insuring terms.
The property is situated on the established Budds Lane Industrial Estate on the northern outskirts of the town just off the A3057 Stockbridge Road.
The accommodation is arranged internally to comprise ground floor workshop premises with an office and store partitioned out, and WCs. There is a first-floor mezzanine office area.
There is an internal fire exit into a communal corridor that serves a number of units.
The unit benefits from approximately nine allocated parking spaces.
Workshop - 3,183 Sq Ft (295.69 Sq M)
Mezzanine Offices - 404 Sq Ft (37.53 Sq M)
Total Gross Internal Area - 3,587 Sq Ft (333.22 Sq M)
We believe the current permitted use to be Use Class E and Classes B2 & B8. All parties
are advised to make their own enquiries of the local authority for confirmation.
Asset Rating - E (125)
Rateable Value £22,750
Source
Offers considered in the region of £265,000 subject to contract for the freehold interest
subject to subsisting tenancy.
A purchase at this level will show an attractive net initial yield of 7.86%.
Industrial Investment Opportunity
Industrial Unit with Parking
Guide Price £265,000
Total Gross Internal Area 3,587 Sq Ft
(333.22 Sq M)
Low Passing Rent £21,500 per annum
Attractive Net Initial Yeld 7.86%
Highly Reversionary
The property is let by way of a lease dated 2nd December 2018 for a term of 10 years at
a passing rent of £21,500 per annum, expiring 1st December 2028.
The tenant is Greatbridge Motor Services Limited.
The lease is subject to an open market upward only rent review on 2nd December 2023
and a tenant break, subject to 6 months notice (now passed).
The lease is drawn on full repairing & insuring terms.
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