Units C1A-C3, Pool Business Park, Dudnance Lane, Redruth, Cornwall, TR15 3QW
SOLD
::: Redruth
::: £625,000 Freehold
::: 682 SQ M (7,342 SQ FT)
Freehold multi-let industrial investment in busy A30 location
Fully let to 4 established tenants
Modern purpose built industrial scheme producing £49,500 per annum
Freehold Guide Price £625,000 reflecting 7.5% NIY
Location
The property is situated on Dudnance Lane in Pool, Redruth, Cornwall in a busy trading estate location amongst well-known occupiers such as Bradfords Building Supplies, Edmundsons electrical and a large Tesco Extra superstore.
Pool is situated immediately south of the A30, the principal trunk road through the county linking Penzance, approximately 15 miles to the West and Bodmin 25 miles to the east.
The town combines with Redruth and Camborne to create the largest conurbation in the county, with a population in the order of 60,000 persons.
Rail services are available via Redruth and Camborne and Newquay Airport is 20 miles to the north west. The location is at the heart of the surrounding industrial estates and one of the principal locations for office, industrial and logistics operations.
Description
The site houses two similar modern detached industrial units, each let to two occupational tenants. The buildings are modern, of steel portal frame design with roller shutter doors, concrete floors and internally insulated. Some of the units have the benefit of internal mezzanine as part of tenant fit-out and one of the units has a modern underfloor heating system.
Accommodation
| UNIT C1A | Merc Autocare | |
|---|---|---|
| GIA | 184.6 sq m | (1,987 sq ft) |
| UNIT C1B | Heartlands | |
| GIA | 177.5 sq m | (1,911 sq ft) |
| UNIT C2 | Swim Supplies | |
| 155.8 sq m | (1,678 sq ft) | |
| UNIT C3 | Go Diagnostics | |
| GIA | 164.1 sq m | (1,766 sq ft) |
Tenure
The property is offered Freehold subject to the occupational leases detailed below:
Unit C1A
Tenant – Merc Autocare.
Term – 10 years from 28th April 2016.
Rent – £12,000 per annum subject to 3 yearly rent reviews.
Unit C1B
Tenant – Heartlands Furniture Ltd.
Term – 5 years from 11th July 2016.
Rent – £11,040 per annum.
Unit C2
Tenant – Swim Supplies Ltd.
Term – 5 years from 11th July 2016.
Rent – £11,500 per annum.
Unit C3
Tenant – Percy Wigg Ltd t/a Go Diagnostics.
Term – 7 years from 16th August 2018.
Rent – £15,000 per annum increasing to £17,500 per annum years 4-7.
NB All leases are full repairing by way of service charge. Annual service charge information is available upon request.
Business Rates
We understand that the properties have been assessed for business rating purposes as follows:
| Unit C1A | Rateable Value | £12,742 |
|---|---|---|
| Unit C1B | Rateable Value | £10,298 |
| Unit C2 | Rateable Value | £10,750 |
| Unit C3 | Rateable Value | £11,612 |
EPC
UNIT C1A
TBC
UNIT C1B
TBC
UNIT C2
Rating C
Certificate reference number
0820-0936-6189-6899-6006
UNIT C3
Rating E
Certificate reference number
0270-1949-0328-9150-7030
Price
Freehold Guide Price £625,000 reflecting a Net Initial Yield of 7.5%.
VAT
The property is elected for VAT and VAT will therefore be chargeable on the sale.
