Industrial & Logistics

SIG, Marsh Barton Trading Estate, Exeter

Budlake Road Marsh Barton Trading Estate Exeter, DEVON United Kingdom EX2 8PY
Asking Price
Area Size
NOI Net Operating Income
NIY

Documents

I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 2000
Building Area Gross
Occupancy 100.0 %

Asset Description

The property comprises of a purpose-built single storey detached industrial building constructed in the 1970's. The building is of a steel portal frame construction with concrete block elevations under a new profile pitched roof. The unit has an eaves height of between 4.85-6.09 metres.


Full specification includes:


  • Steel portal frame construction
  • Internal brick-built elevations
  • New composite roof panels, sky lights and downpipes
  • Integral two storey office accommodation
  • 3x up and over/roller shutter doors
  • Loading canopies above all roller shutter doors
  • Trade counter entrance and element
  • Large yard areas at the front and rear of the unit
  • Allocated car parking

Investment Highlights

  •  Situated within Exeter’s prime trading estate
  •  Detached and refurbished building totaling 24,076 sq ft (2,236 sq m) GIA
  •  Low site coverage of only 25%
  •  999 year long leasehold at a peppercorn rental
  •  Single let to established National covenant of SIG Trading Ltd 
  •  Let on a 10-year lease until September 2027, with an unexpired term of 5.23 years until expiry
  •  Low base rent at 50% of new build rental levels
  •  Rent of £135,000 per annum reflects only £4.30 per sq ft on the building, and £1.00 per sq ft on the surplus yard
  •  Seeking offers in excess of £2,525,000 (TWO MILLION, FIVE HUNDRED AND TWENTY FIVE THOUSAND POUNDS) subject to contract
  •  Net Initial Yield of 5.03%, and a Reversionary Yield of 7.80%, assuming purchasers’ costs of 6.38%
  •  Capital value of only £104 per sq ft
Last Updated Date: 11 Jul 2022

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Last Updated Date: 11 Jul 2022

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