Wilverley Trading Estate, Bath Road, Bristol BS4
Prime Reversionary South West Multi Let Industrial Investment Opportunity
- Urban, reversionary multi-let trade park and industrial estate located in Bristol, the 5th largest conurbation in the UK and the capital of the South West.
- Prominently situated on Bath Road (A4) in the established retail warehouse, motor trade and industrial area of Brislington, 2.6 miles from Bristol City Centre.
- Eight industrial units built in the 1980s providing a total gross internal area of 62,307 sq ft (5,788.3 sq m) with a site area of approximately 2.87 acres providing a low site cover of approximately 43%.
- Multi let to 5 tenants on 6 leases providing a AWULT of 4.98 years to lease expires and 3.28 years to breaks. Four of the leases are excluded from the security of tenure and compensations provisions of sections 24-28 of The Landlord & Tenant Act 1954.
- Strong covenant profile which includes Cubico (UK) Limited, Screwfix Direct Limited and Mon Motors Limited.
- Current rent of £433,241 per annum which equates to a low average overall rent £6.95 per sq ft.
- Estimated rental value of £586,505 per annum which equates to an average overall rent of £9.41 per sq ft.
- Various asset management opportunities which include creating additional car parking at the front of the site, refurbish and divide Units 3-6 at lease expiry and re-gearing leases with existing tenants.
- The vendor is seeking offers in excess of £8,540,000 (Eight Million, Five Hundred and Forty Thousand Pounds) subject to contract, A purchase at this level would reflect a net initial yield of 4.75% and a reversionary yield of 6.43% and a low capital
value of £137 per sq ft after allowing for purchasers costs of 6.8%.