MapOffers in region of
£495,000Property for sale
Units 1-9, Milvale Street, Stoke-on-Trent, ST6 3NT
Property
14875
Features and description
- Self-contained
- Long Standing Tenants
The property comprises a self-contained industrial investment let to two long standing tenants who have been in occupation for circa 20 years. Units 1-2 are occupied by GM Panels on a lease which expires in September 2026 with Units 3-9 being occupied by Ace Vauxhall Parts who are currently holding over on their lease agreement.
The total current passing rent is £46,100 per annum exclusive which breaks back to a low £3.09 per square foot overall. There is an excellent opportunity for value enhancement through asset management and a potential reversionary rent of £61,750 per annum exclusive.
A purchase at the quoting level reflects:
Net Initial Yield – 9.31%
Reversionary Yield – 12.47%
Capital Value - £33.27 per square foot
The property is situated on Milvale Street in Middleport, a short distance from Burslem town centre and within close proximity of the A500 dual carriageway which provides access to the M6 motorway. Junctions 15 and 16 of the M6 are located approximately 6.3 and 6.9 miles distant respectively. Middleport Pottery is located adjacent the property.
The total current passing rent is £46,100 per annum exclusive which breaks back to a low £3.09 per square foot overall. There is an excellent opportunity for value enhancement through asset management and a potential reversionary rent of £61,750 per annum exclusive.
A purchase at the quoting level reflects:
Net Initial Yield – 9.31%
Reversionary Yield – 12.47%
Capital Value - £33.27 per square foot
The property is situated on Milvale Street in Middleport, a short distance from Burslem town centre and within close proximity of the A500 dual carriageway which provides access to the M6 motorway. Junctions 15 and 16 of the M6 are located approximately 6.3 and 6.9 miles distant respectively. Middleport Pottery is located adjacent the property.
Property information from this agent
About this agent
Mounsey Chartered Surveyors - Stoke-On-Trent
Lakeside, Festival Way, Festival Park
Stoke-on-Trent
ST1 5PU
01782 933790Specialising in general practice commercial property advice that also incorporates a residential survey and valuation service. We work closely with each of our clients to provide a tailored approach that exceeds their expectations. In 2019 we have been shortlisted for the CoStar midlands agency award for the most active single branch agent by the number of acquisitions & disposals, which is why 80% of our instructions are from clients that we have previously provided property consultancy services. Our knowledge, market intelligence and proactive attitude enable us to solve our client’s problems and build lifetime relationships.