- Detached industrial/warehouse and office investment on an established and thriving business park.
- Very prominently positioned on Binley Business Park at the corner of Herald Way and Progress Way.
- Freehold three bay steel portal frame industrial warehouse with two storey glazed offices to the front extending in total to 40,593 sq. ft. GIA.
- Let to Hydrogarden Limited on a new 3 years lease with a tenant break option at year 2 on giving 6 months notice at a rent of £215,000 per annum equating to £5.30 per sq. ft. overall.
- Hydrogarden Limited are a leading supplier of hydroponic equipment and have been established for 24 years. They have an Experian credit rating of 100 indicating very low risk and for year ending 2019 had a turnover of £29.3 million, pre-tax profit of £995,930 and a net worth of £6.1 million.
We are instructed to seek offers in excess of £2,700,000 (Two Million Seven Hundred Thousand Pounds) subject to contract, which reflects a net initial yield of 7.48% after allowing for purchasers’ costs of 6.41% and £66.51 per sq. ft.
