Haarer Goss is instructed to market Units 1 - 11, Heron Road, Sowton Industrial Estate, Exeter.
- Strategically located on Sowton Industrial Estate, adjacent to Junctions 29 and 30 of the M5 motorway
- Comprising 11 units totalling 37,485 sq.ft on a site of 2.5 acres (1.017 hectares), 34% site cover
- Let to 7 tenants including Anglian Windows and Muller Wiseman
- Low base rents totalling £203,166 per annum £5.41 per sq.ft)
- Net initial yield 6.5%
- Low capital value of £78 per sq.ft
The property is constructed in two terraces, units 1 - 6 comprising 17,297 sq.ft and units 7 - 11 comprising 20,188 sq.ft. Between the terraces there is a large service yard with part designated parking, loading and a communal yard area.
The units were constructed in the 1980's of steel portal frame construction with part brick, part profiled metal cladding elevations. Each unit has a roller shutter door and ancillary accommodation. The asbestos sheet roofs have been over clad with the exception of unit 2/3 whom have been a long standing tenant.
We have been instructed to seek offers in excess of £2,925,000 (two million nine hundred and twenty five thousand pounds), to reflect a net initial yield of 6.5% after deduction of 6.72% purchasing costs.
For further information please contact Iain Biddlestone 01392 251171.