Industrial For Sale   |   Grove Way, Mansfield Woodhouse, NG19 8BW   |    £450,000

Summary

An excellent opportunity to acquire a fully let multi-let industrial investment situated on the well-established Grove Way Industrial Estate, Mansfield Woodhouse. The property comprises three self-contained industrial units, each benefiting from dedicated yard space, mezzanine storage and independent access.

Constructed with a steel portal frame and concrete floors, the units provide flexible industrial accommodation suitable for a variety of trade, warehouse and light manufacturing uses. Each unit benefits from a separate pedestrian entrance together with a 2.9m x 2.9m roller shutter loading door.

The investment is currently fully occupied and produces a passing rental income of £33,000 per annum (£11,000 per unit). There is considered to be clear scope to increase the rents to approximately £12,000 per annum per unit, increasing the total annual income to £36,000 per annum.

The property presents an attractive asset management opportunity through lease renewals and rental growth. Subject to agreeing new three-year leases at market rent, the investment would offer purchasers a secure income stream with excellent long-term investment credentials.

ACCOMMODATION

Each unit comprises approximately:

Internal Dimensions: 6.2m x 19.2m
Ground Floor Area: 119 sq m (1,281 sq ft)
Mezzanine Floor
Eaves Height: 5.9m
Roller Shutter Door: 2.9m wide x 2.9m high
Dedicated Yard Space

Total Ground Floor Accommodation

357 sq m (3,844 sq ft) plus mezzanine accommodation.

SPECIFICATION
Fully let investment
Three self-contained industrial units
Dedicated yard space to each unit
Steel portal frame construction
Concrete floors
Mezzanine storage areas
5.9m eaves height
2.9m x 2.9m roller shutter loading doors
Separate pedestrian entrances
Excellent asset management potential
Scope for rental growth
TENANCY

The property is currently fully let producing a combined rental income of £33,000 per annum.

There is potential to increase the passing rent to approximately £36,000 per annum, subject to lease renewals and market evidence.

Renewal of the existing leases onto new three-year terms would further strengthen the investment profile and provide purchasers with secure income.

PRICE

Offers in Excess of £450,000.

A purchase at this level reflects an attractive investment opportunity with immediate asset management potential through lease renewals and rental growth.

EPC

Energy Performance Certificates are available upon request.

VAT

We understand VAT will be charged where applicable.

VIEWING

Strictly by prior appointment with the sole selling agents.

Location

The property occupies a prominent position on Grove Way, Mansfield Woodhouse, one of the area's established commercial and industrial locations. The estate is home to a range of trade, manufacturing and warehouse occupiers and benefits from excellent access to Mansfield town centre, the A60, A617 and the wider regional road network, making it a popular location for businesses and investors alike.

Additional Information

For further information on this property please call 01157342000 or e-mail enquiries@lester-bingley.co.uk