Drake Commercial have been instructed to sell a modern detached industrial investment on Lodge Farm Industrial Estate, Northampton.
Unit 1 Barn Way, Lodge Farm, Northampton
- 12,715 sq ft (1,181.20 sq m)
- Detached modern industrial unit on one of Northampton’s most established industrial estates
- 6.5m eaves height
- There is a transformer (currently disconnected) offering the potential of 1500 kVA
- Let on full repairing lease to Burnetts Manufacturing Ltd for 15 years from 30th May 2014 with approximately 9 years unexpired
- There is a mutual break clause terminating the lease at 30th May 2024.
- The current rent passing is £62,250 equating to £4.89 per sq ft which is considered highly reversionary.
We are instructed to seek offers in excess of £995,000 subject to contract and exclusive of VAT. A purchase at this price would reflect a Net Initial Yield of 5.9% assuming purchasers costs of 5.6%.
For further information, please contact either Joe Smith or Nicholas Roberts on 01604 620616.