single let industrial investment

Unit 14 Finchley Avenue, Mildenhall, IP28 7BG

Industrial

£1,900,000

Floor Area 26,443 sq ft
Site Area
Site Area 0.86 Acres
Tenure For Sale

Key Information

Available From 23/03/2022
EPC Awaiting assessment.
Rateable Value £69,500
Download Brochure

About The Property

Key Features

• Detached freehold industrial / warehouse unit
• Providing a total GIA of 26,443 sq ft (2,456.59 sq m)
• Well established industrial estate with excellent access to the A11
• Ideal for private and SIPP investors
• Wholly let to Easypack/Pop Group Limited
• Rental guarantor from Fencor Packaging Group Limited
• Access from Finchley Avenue & Holborn Avenue providing future
potential for sub-division
• PV potential of roof for a 199kWH system with UKPN approval
• Rental income of £102,795 per annum
• Unexpired lease term of 6.5 years (exp. 28 September 2028)
• Low rent of only £3.89 per sq ft with reversionary potential at review
• Offers invited in region of £1,900,000 for the freehold interest,
subject to contract and reflecting a net yield of 5.11% having
allowed for purchasers costs of 5.9%
• A purchase at this level reflects a capital value of £71.85 per sq ft
• We are informed that no VAT is payable on the purchase price

LOCATION

The property is prominently situated on FInchley Avenue, one of the main spine roads forming the Mildenhall Industrial Estate. Finchley Avenue is located approximately one mile north of Mildenhall town centre and within two miles of the Barton Mills junction of the A11. The A11 provides excellent access to Norwich, Thetford and Cambridge as well the east coast ports and national motorway network via the A14 & M11. The military bases of RAF Mildenhall and RAF Lakenheath are both within close proximity to the property.

 

DESCRIPTION

Unit 14 Finchley Avenue comprises a modern factory premises with offices and mezzanine storage. The original property has been extended to the rear and incorporates a smaller unit on Holborn Avenue. Vehicle access is provided from Finchley and Holborn Avenue.

 

 

Main Unit -Finchley Avenue

The main factory comprises a double bay, concrete portal frame building with infill section of steel portal frame. The internal eaves height is 4.38m lowering to 3.13m. The elevations & roof are overclad with profile steel cladding. The factory specification includes LED lighting, concrete floors, gas blast space heating and three phase. The unit provides ground floor reception, meeting room, staff & welfare facilities as well as offices at first floor. A mezzanine provides further first floor office accommodation. A link building attaches the unit to a neighbouring warehouse which does not form part of the sale.

Externally car parking for approximately nine vehicles (four with EV charging)
is provided to the front. A side yard offers access to the roller shutter loading
doors.

Mid Unit
Adjoining the Main Unit to the rear, a steel portal frame warehouse/factory unit with insulated steel profile roof and elevations. The unit has an internal eaves of 4.54 m rising to 4.96m at the apex. A single roller shutter door is provided with access to the Finchley Road yard. The unit has concrete floors, LED lighting and amibrad type gas heating.

Holborn Avenue Unit
Adjoining the Mid Unit to its rear, a concrete portal frame factory unit with brick elevations which have been overclad with steel profile cladding. Ancillary WCs, staff amenity & light production areas are provide under a flat roofed single storey extension. The

ACCOMMODATION

The property has an approximate gross internal floor area of 26,443 sq ft. For a further breakdown of the floor areas please refer to the brochure.

PRICE

A guide price of £1,900,000. A purchase at this price reflects a net initial yield of 5.11% allowing for purchasers costs of 5.9%.

RATING

The property appears in current Rating List with a description as ‘factory and premises’ with a Rateable Value of £69,500. (Please note this listing includes part of the adjoining property also leased by Easypack).

ENERGY PERFORMANCE CERTIFICATE

A full copy of the EPC is available on request.

LEGAL COSTS

Each party to be responsible for their own legal costs incurred in this transaction.

Agents Responsible

Ella Forman

Graduate Surveyor – Commercial Property

01284 702626

Richard Pyatt MRICS

Director – Commerical Property

01284 702626

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