Skelmersdale – Highly Reversionary Distribution Warehouse & Serviced Offices
Alled Business Centre & Warehouse, Potter Place, West Pimbo Industrial Estate, Skelmersdale, Lancashire, WN8 9PH
Offers in excess of £4,000,000
- Property Type:
- Sub Type:
- Net Initial Yield:
- Highly reversionary distribution warehouse with considerable asset management opportunities in the logistics sector.
- Strategically located on West Pimbo Industrial Estate, an established industrial estate immediately adjacent to Junction 5 of the M58.
- Large site area of 10.67 acres (4.32 hec) providing a low site coverage of 30%
- Current triple net rent of £303,168 reflecting a very low £1.60 psf on the warehouse accommodation and £2 psf overall.
- Local evidence for industrial rents show a potential for reversion between £3-£4 psf, a considerable increase on the current rent for the warehouse accommodation.
- The property provides 117,800 sq ft of warehouse accommodation and 30,421 sq ft of serviced office accommodation.
- The tenant of the warehouse accommodation, Messenger Express Warehousing Limited, is an established logistics operator who has been in occupation for over 15 year.
- Freehold. it is the first time the property has been marketed as a freehold asset with short term leases (not a ground rent) for over 30 years.
- We are instructed to seek offers in excess of £4,000,000 subject to contract and exclusive of VAT. A purchase at this level reflects a low capital value of £27.00 per sq ft and a Net Initial Yield of 7.10%, with a potential significant reversion after asset management.