Haarer Goss, Exeter based chartered surveyors

Property News

SOLD - Multi-Let Industrial Estate Investment, Sowton, Exeter
September 5, 2018, 4:08 pm

Haarer Goss has recently completed on the sale of Units 1 - 11, Heron Road, Sowton, Exeter.

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 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. 

The site area extends to 2.5 acres (1.017 hectares), 34% site cover.

* Strategically located on Sowton Industrial Estate, adjacent to Junctions 29 and 30 of the M5 motorway

* Let to 7 tenants including Anglian Windows and Muller Wiseman

* Low base rents totalling £203,166 per annum (£5.41 psf)

* Net initial yield 6.5%

* Low capital value of £78 psf

Offers were sought in excess of £2,925,000 (stc)

For further information please call Iain Biddlestone on 01392 251171.