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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:
Commercial
Sub Type:
Industrial
Tenure:
Freehold
Net Initial Yield:
7.10%

Income

£303,168 pa

Description

  • 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.