Unit 9 Aberavon Road, Baglan Industrial Estate, Port Talbot, SA12 7DJ
- Property Type: Investment
- Size: 2,254 sq m (26,207 sq ft)
- PROMINENT LOCATION CLOSE TO J41 M4 MOTORWAY
- 999 LEASEHOLD, PEPERCORN RENT
- 26,207 SQ FT SELF-CONTAINED PROPERTY
- STEPPED RENT TO £104,800 pax (£4.00 PER SQ FT)
- LEASE EXPIRING 31 DECEMBER 2025 (NO BREAKS)
- OFFERS IN THE REGION OF £1,365,000, SUBJECT TO CONTRACT & EXCLUSIVE OF VAT, REFLECTING AN EQUIVALENT YIELD OF 6.60% (ASSUMING PURCHASER’S COSTS AT 5.87%)
The property is located within the heart of Baglan Industrial Estate, one of the main industrial locations in this part of South Wales. Junctions 41 & 42 of the M4 Motorway are located approximately two miles away. Swansea City Centre lies approximately 9 miles to the west, whilst Cardiff City Centre 35 miles to the east.
Prominent occupiers in the immediate vicinity include Howden Joinery, Screwfix, City Electrical Factors, Owens Road Transport, Warburtons Bakery and Freudenberg.
DESCRIPTION
The property comprises a semi-detached warehouse with surfaced yard area and car parking. The building is of steel portal frame construction over clad with metal sheeting. The warehouse has 7m (minimum) eaves height.
Vehicular access to the site is provided directly from the estate road via double gates opening up to the yard area and car park. Two large (5m high) roller shutter doors provide loading access from the yard area to the main warehouse. Pedestrian access is given to the side of the building which leads to the staff/office accommodation.
The building occupies a site of approximately 1.65 aces (0.67 ha).
ACCOMMODATION
| Ground Floor: | 2,314 sq m | 24,907 sq ft |
| First Floor: | 120 sq m | 1,292 sq ft |
| Total: | 2,254 sq m | 26,207 sq ft |
TENURE
| Title number | Term | Rent | |
| Leasehold | CYM248707 | 999 years from 30 June 2005 | Peppercorn rent fixed for the term |
Copy documentation available on request.
TENANCY
| Tenant | Term | Breaks | Rent PAX | Other |
| Vizor Tempered Glass Limited
|
Five years commencing 1 January 2021, expiring 31 December 2025 | None | Year 1 £85,150
Year 2 £90,390 Year 3 £95,630 Year 4 £100,870 Year 5 £104,800 |
Inside the Act, FRI subject to Schedule of Condition dated 18 August 2015. |
Copy documentation available on request.
TENANT INFOMATION
Vizor Tempered Glass Limited, company registration number 03072172. Founded in 1995. Trading accounts for year ending 31 December 2019 show a turnover of £17,949,102, a gross profit of £8,383,702, net profit before tax of £516,446 and net assets of £10,694,604.
PASSING RENT
The rent is stepped from £85,150pax (£3.25psf) to £104,150pa (£4.00psf), producing an average rent across the term of £3.64 psf
PROPOSAL
Seeking offers in excess of £1,365,000 (One Million, Three Hundred and Sixty-Five Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level would reflect a capital value of £52 per sq. ft, and the following yield profile:
Net Initial Yield: 5.89%
Equivalent Yield: 6.60%
Reversionary Yield: 7.25%
Assuming standard purchaser’s costs at 5.87%.