5 February, 2019

For Sale: Unit 108 Tenth Avenue, Deeside Industrial Park, Deeside, CH5 2UA

BA-Commercial-108-Tenth-Ave

Investment Summary

  • Sale and leaseback of an industrial and warehouse complex
  • Close links to Liverpool and Manchester with M56, M53 and M6
  • Situated on a site of 2.28 acres (0.922 hectares), it has an overall Gross Internal floor Area of 4,988 sq m (53,689 sq ft)
  • On completion the property will be let to Comtek Network Systems (UK) Ltd, 10 year term, 5 year break and review
  • Comtek have occupied the site for over 27 years
  • The rental will equate to £240,000 per annum (£4.47 per sq ft) subject to an open market review upon the fifth anniversary
  • We are instructed to seek offers in excess of £3 million, Subject to Contract, and exclusive of VAT, which will show a net initial yield of 7.52 % after allowing for purchases costs of 6.45%
  • Low capital value £55.88 per sq ft

Tenancy

The property is available by way of a sale and leaseback to Comtek Network Systems (UK) Ltd, on a new Full Repairing & Insuring lease, for a term of 10 years from completion. The leaseback will be subject to a tenant break clause upon the fifth anniversary providing not less than twelve months clear written notice. The rental will equate to £240,000 per annum (£4.40 per sq ft) and will be subject to an open market review upon the fifth anniversary.

Purchase Price

We are instructed to seek offers in excess of £3 million subject to contract and exclusive of VAT which will show a net initial yield of 7.52% after allowing for purchaser’s cost of 6.45%.

Unit 108 Tenth Avenue, Deeside Industrial Park, Deeside, CH5 2UA

Contact our Chester Office on 01244 351 212.