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Unit 4a, Squiresgate Industrial Estate, Off Squiresgate Lane, Blackpool, FY4 3RN
For Sale
-
Tenure
For Sale -
Type
Retail -
Price
Offers in Excess Of £2,400,000 -
Size
32,100 Sq Ft -
Ref No
11547
Property Highlights
- Located on the well established Squires Gate Industrial Estate, within Blackpool Airport Enterprise Zone.
- Positioned off the busy A5230, close to the M55
- Let to the strong covenant of Simpsons Beverages Supply Co Ltd, with a Creditsafe score of 'very low risk'. Tenant has been established in Blackpool since 1934.
- Significant investment on refurbishment prior to letting.
- Current passing rent of £160,500 per annum (only £5.00psft) offering scope for reversion.
- New 10 year lease expiring July 2032.
- A purchase at this level provides an attractive Net Initial Yield of 6.29% (assuming purchaser's costs of 6.36%) and a low Capital Value of £74.77 psf.
- Freehold
Overview
Property for sale within Squires Gate Industrial Estate, Blackpool. It comprises a modern self-contained steel portal frame unit and has the following specification:
6.7m minimum eaves
11m ridge height
2 roller shutter loading doors (on completion of landlord works)
LED lighting (recently upgraded)
Gas fired heating throughout
Extensive surfaced yard
Secured by perimeter fence
Separate independent car parking to the front
Profile metal clad roof and elevations
The unit was formerly utilised as a cash and carry. The landlord has recently undertaken extensive refurbishment works including the replacement of lighting with modern LED units, removal of former fridges and cold store area to create an open plan warehouse unit with large span, installation of new perimeter fencing and gate, removal of landscaped carpark to create large yard area and painting of cladding.
The property also incorporates a single storey first floor office element which extends to 1,879 sqft.
The landlord has completed an AFL with Simpsons Beverages Supply Co. As part of the landlord works they are currently installing a second loading door.