The subject property comprises an end of terrace industrial unit with parking to the front elevation, in a prominent location fronting the A47 Dodwells Road in Hinckley. The property is let on two coterminous 5 year leases from 14 April 2020, with a rent review and break clause at the end of the third year, to The Signage & Display Co Limited, at a rent of £XXX per annum.
Location
The property is situated on Venture Court, a small industrial estate, located off the A47 Dodwells Road in Hinckley. The property is located 0.4 miles form the A5/A47 Dodwells Island interchange, which provides convenient access to the M69, M42 and M1 Motorways. Dodwells Road is an established industrial location with major occupiers including Tesco, Alliance Healthcare, The Alan Nuttall Partnership, XPO Logistics, Motor Parts Direct and DS Smith.
Hinckley is a market town with a population in the order of 55,000 (Local Authority 105,000) lying approximately 13 miles to the south west of Leicester. The town enjoys good motorway communications with Junction 1 of the M69 Motorway, being located on the south eastern fringe of the conurbation approximately 2 miles from the town centre.
Accommodation
The subject property comprises two industrial units in a prominent location within the Dodwells Bridge Industrial Estate, with a frontage to the A47 Dodwells Road. The units are constructed of a steel portal frame with brick faced blockwork to half height and profile sheet steel above and to the roof. The units benefits from two roller shutter doors to the rear elevation, pedestrian access to the front elevation, 5.5m clear eaves height, office, WC and kitchen facilities.
In more detail, the accommodation comprises the following on a Gross Internal Area (GIA) basis:
Unit 1:
Unit 1 - 6,003 sq ft (557.7 sq m)
Unit 1 Mezzanine - 2,393 sq ft (222.3 sq m)
Unit 1 GIA - 8,396 sq ft (780.0 sq m)
Unit 2:
Unit 2 - 5,956 sq ft (553.3 sq m)
Unit 2 Mezzanine - 346 sq ft (32.1 sq m)
Unit 2 GIA - 6,302 sq ft (585.5 sq m)
Units 1 & 2:
Total GIA - 14,698 sq ft (1,365.5 sq m)
Terms
Lease Terms
The property is let on two coterminous 5 year leases, with a rent review and break clause at the end of the third year, from 14 April 2020 to The Signage and Display Co Limited, at the rents below:
Unit 1 - £XXX per annum
Unit 2 - £XXX per annum
Total - £XXX per annum
Both leases contain a rental incentive of 12 months half rent from lease commencement.
Purchase Price
Offers in the region of £XXX are sought for the benefit of the freehold interest in the subject property, representing a net initial yield of 7.12%.
Specification
Services
We understand mains electricity, water and drainage are connected to the property.
Energy Performance Certificate:
Rating: D(86)