Key Features
ERV at Review - £177,500 per annum exclusive
Net Initial Yield - 6.72%
Current Income - £128,000 per annum exclusive
Reversionary Yield - 9.32%
The property has an EPC rating of C.
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Property Description
Detached double pitched industrial/warehouse unit arranged as factory and stores at ground floor with ancillary offices, separate male and female WCs, kitchenette, locker room with further offices, predominantly open plan arrangement at first floor and mezzanine storage. The property benefits from two electric roller shutter doors to the front with space for loading and unloading on the front forecourt.
INVESTMENT SUMMARY
Assuming an ERV at review of £177,500 pax (£10.00 per sq. ft) and a purchase price of £1,800,000 exclusive, this equates to a Net Initial Yield of 6.72% and a Reversionary Yield of 9.32% (allowing for purchaser's costs of 5.75%).
FMS Foils Limited are a successful business with a stable of blue chip clients. They are owned by WZ Packaging Limited, who have an Experian Credit Rating of 73/100 (Below Average Risk).
Location
Temple Farm Industrial Estate in Southend-on-Sea is a well-established commercial hub offering versatile industrial units with excellent transport links and modern amenities. Located approximately two miles north of Southend town centre, Temple Farm Industrial Estate is strategically positioned near the A127, Southend's main arterial road, providing convenient access for logistics and distribution. The estate comprises a mix of light industrial and warehouse units.
VAT
All rents, prices and premiums are exclusive of VAT under the Finance Act 1989.
