Property photos
Just added
Freehold
£1,750,000
Industrial for sale
Estate Road 6, South Humberside Industrial Estate, Grimsby, Lincolnshire DN31Local area information
Property location
Nearby amenities
- The Orchard 0.4 miles
- Willows Academy 0.5 miles
- Great Coates 0.5 miles
- Grimsby Town 1.5 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Features and description
- Freehold
- Let to Cromwell Tools Ltd, Sunbelt Rentals Ltd & Industrial Engines Ltd
- Current combined rent passing £130,000 p.a
- Rent secured until September 2027 with potential for uplift
- Price £1,750,000 - Net initial yield of 6.9% (allowing for purchasers costs of 5.8%)
The property is a modern industrial building of steel portal frame construction with brick and block infilled panels with elements of external pressed steel cladding under a pitched pressed steel roof which is underdrawn and insulated. The premises have been split into 3 parts, each let separately and have the benefit of a shared block paved car park fronting onto Estate Road 6 with tarmac surfaced service yard at the rear. Each premises is accessed independently via personnel and roller shutter doors and the larger accommodation has the benefit of good quality office and trade counter accommodation with powder coated aluminium framed windows over 2 storeys.
Location
The property is located on the junction of Estate Road 5 and 6 on South Humberside Industrial Estate Grimsby, a well-established and popular industrial area with numerous businesses enjoying easy access to the A180 dual carriageway 600 metres from the premises.
Accommodation
Unit 1
Let to Sunbelt Rentals Ltd
Lease Terms: 5 years from September 2022
Size: 4,342 sq ft gia
Current Rent: £27,500 pax.
EPC Rating: C
Credit Safe Score: 100
Unit 2
Let to Cromwell Tools Ltd
Lease Terms: 5 years from completion of sale. Tenant only break on 3rd anniversary
Size: 4,531 sq ft gia
Current Rent: £27,500 pax.
EPC Rating: C
Credit Safe Score: 82
Unit 3
Let to Industrial Engines Ltd*
Lease Terms: 5 years from June 2025
Size: 11,140 sq ft
Current Rent: £75,000 pax.
EPC Rating: C
Credit Safe Score: 32
* Prior to 1st August 2023 the business traded as a partnership, established in 1978. Directors subsequently remain on the new lease
Tenure
The freehold interest is available, subject to the leases, at a guide price of £1.75 million reflecting 6.9% net initial yield (after allowing for purchasers costs of 5.8%). The tenure is freehold.
VAT The above amounts have been quoted exclusive of VAT and VAT will be charged.
Location
The property is located on the junction of Estate Road 5 and 6 on South Humberside Industrial Estate Grimsby, a well-established and popular industrial area with numerous businesses enjoying easy access to the A180 dual carriageway 600 metres from the premises.
Accommodation
Unit 1
Let to Sunbelt Rentals Ltd
Lease Terms: 5 years from September 2022
Size: 4,342 sq ft gia
Current Rent: £27,500 pax.
EPC Rating: C
Credit Safe Score: 100
Unit 2
Let to Cromwell Tools Ltd
Lease Terms: 5 years from completion of sale. Tenant only break on 3rd anniversary
Size: 4,531 sq ft gia
Current Rent: £27,500 pax.
EPC Rating: C
Credit Safe Score: 82
Unit 3
Let to Industrial Engines Ltd*
Lease Terms: 5 years from June 2025
Size: 11,140 sq ft
Current Rent: £75,000 pax.
EPC Rating: C
Credit Safe Score: 32
* Prior to 1st August 2023 the business traded as a partnership, established in 1978. Directors subsequently remain on the new lease
Tenure
The freehold interest is available, subject to the leases, at a guide price of £1.75 million reflecting 6.9% net initial yield (after allowing for purchasers costs of 5.8%). The tenure is freehold.
VAT The above amounts have been quoted exclusive of VAT and VAT will be charged.
More information
Listed by
Scotts Property LLP
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