Swansea – Multi-Let Industrial Estate
SA1 Business Park, Fabian Way, Swansea, SA1 8PB
Offers in excess of £6,750,000
- Property Type:
- Sub Type:
- Net Initial Yield:
- Gateway site to Swansea City Centre adjacent to the A483, the primary eastern arterial road.
- SA1 Business Park sits within an established commercial hub including car dealership, hotel and fast food uses.
- Swansea Waterfront and The Port of Swansea continues to experience significant regeneration which will provide long term benefits and re-development potential to the site.
- Total area of 144,400 sq ft across 39 individual units and storage yard.
- Multi-let to 28 individual tenants with excellent long-term tenant retention on-site.
- Net operating income of £574,850 p.a., reflecting a low average rent of £3.97 psf.
- Average unexpired term of 1.9 years.
- The site extends to 10.75 acres (4.4 hectares), providing a low site cover of 38%.
- 46,521 sq ft of vacant accommodation and substantial accompanying yardage.
- Potential to add substantial value through lease formalisation, driving rental growth and adapting existing accommodation, subject to consents.
- Offers are sought in excess of £6,750,000, subject to contract and exclusive of VAT, reflecting a capital rate of £47 psf and the following yield profile:
Triple Net Initial Yield 8.00%; Net Initial Yield 8.85% *Inclusive of Rental Guarantees; Reversionary Yield 9.35%