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Julia Works Northgate 26,307 SF 100% Leased Industrial Building Morecambe LA3 3AY $2,524,882 ($95.98/SF) 8.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Located on White Lund Industrial Estate, the primary industrial and trade counter estate in the region
- WAULT of 8.41 years to lease expiries and 3.90 years to break
- ERV of £161,568 per annum with a potential reversionary yield of 8.50%
- 2 trade counter units and a café unit let to Howdens, Screwfix and Peckish Catering Limited
- Total passing rent of £135,840 per annum
- EPC (B)
EXECUTIVE SUMMARY
White Lund is the primary industrial and trade counter estate in the region with other trade counter occupiers including Toolstation, ATS Euromaster, Plumbase, Thomas Graham, Brewers Decorators Centre, Topps Tiles, City Plumbing Wolseley, as well as a number of car showrooms and retail uses. The subject property is situated in a prominent position on the corner of Northgate and Middlegate. The site has 3 entrance points into the car park providing access from multiple directions. The property is held freehold under Title No LA646198 shown in red in the adjacent plan. The blue boundary depicts the car parking and yard areas held freehold under Title No LAN118117 and held by a management company (the shares of the management company will also be transferred as part of any transaction).
PROPERTY FACTS
| Price | $2,524,882 | Building Class | B |
| Price Per SF | $95.98 | Lot Size | 0.62 AC |
| Sale Type | Investment | Rentable Building Area | 26,307 SF |
| Cap Rate | 8.50% | No. Stories | 1 |
| Tenure | Freehold | Year Built | 1990 |
| Property Type | Industrial | Parking Ratio | 1.25/1,000 SF |
| Property Subtype | Showroom |
| Price | $2,524,882 |
| Price Per SF | $95.98 |
| Sale Type | Investment |
| Cap Rate | 8.50% |
| Tenure | Freehold |
| Property Type | Industrial |
| Property Subtype | Showroom |
| Building Class | B |
| Lot Size | 0.62 AC |
| Rentable Building Area | 26,307 SF |
| No. Stories | 1 |
| Year Built | 1990 |
| Parking Ratio | 1.25/1,000 SF |
AMENITIES
- Storage Space
- Smoke Detector
UTILITIES
- Lighting
- Water
- Sewer
- Heating
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VIDEOS
MATTERPORT 3D EXTERIOR
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Julia Works | Northgate
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