Sold STC - Investment

Industrial Investment Property.

LOCATION: The property is situated on the southern side of Middlemore Lane West, Aldridge within an established, well regarded industrial area.

DESCRIPTION: The property comprises a predominantly single storey industrial premises consisting of three units occupied by two tenants.  Units 10B and 10C, situated toward the left hand side of the site, are approached via a gated driveway leading to an enclosed service yard/car park, while 10D is approached via a separate driveway toward the right hand side leading to its own service yard/car park.

ACCOMMODATION:

UNIT 10B - Workshop - Gross Internal (GIA) Ground Floor Area approximately 2,210 sq.ft. (205.30 sq.m.) plus first floor mezzanine stores and staffroom approximately 540 sq.ft. (50.16 sq.m.).  Total GIA approximately 2,750 sq.ft. (255.47 sq.m.).

UNIT 10C - Workshop - GIA  Ground Floor approximately 2,615 sq.ft. (242.93 sq.m.) plus 

first floor mezzanine stores approximately 315 sq.ft. (29.26 sq.m.). Total GIA approximately 2,930 sq.ft. (272.19 sq.m.).

TOTAL GIA UNITS 10B AND C approximately 5,680 sq.ft. (527.67 sq.m.).

UNIT 10D - Workshop - GIA Approximately 4,042 sq.ft. (375.50 sq.m.).

Total Gross Internal Floor Area approximately 9,722 sq.ft. (903.17 sq.m.).

SERVICES: Usual mains services are understood to be connected or available to the property.  No tests have been applied to any of the services or appliances. 

ENERGY PERFORMANCE CERTIFICATES: UNIT 10B/C - Energy Rating 99 - D, UNIT 10D - Energy Rating 109 - E. 

TENANCIES: Units 10B and C are occupied by a tenant at a current passing rent of £18,800 per annum exclusive.  We understand that a new lease for a term of five years is presently being prepared.  Unit 10D is let by way of a ten year lease from 2018 at a current passing rent of £16,800 per annum exclusive. 

The total rental income from the property is presently £35,600 per annum, although we would comment here that the current passing rents appear to be below current market rents, so that we believe there is potential to increase the rents at the next opportunity and estimate that the total rental income when fully let would be in the region of £45,000 per annum.  

TENURE:  We understand that the property is Freehold. 

VIEWINGS:    Contact Fraser Wood Commercial on 01922 629000.

Please note that all parties viewing the property do so at their own risk and neither the vendor nor the agent accept any responsibility or liability as a result of any such viewings.