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Units 1-10 Crofton Dr 13,998 SF 92% Leased Industrial Building Lincoln LN3 4NR $2,112,881 ($150.94/SF) 7.50% Cap Rate
Investment Highlights
- Reversionary growth potential
- Close proximity to A15 and Lincoln Eastern Bypass
- Passing rent £115,340 pa
Executive Summary
- Located on the established Allenby Trading Estate, a short distance of the A15 (Lincoln Eastern By-Pass) and two miles northeast of Lincoln City Centre
- A multi-let Industrial Investment comprising 10 units totalling 14,110 sq ft (1,311 sq m)
- Site area 0.88 acres (0.356 hectares)
- The property is let on 9 individual leases, with Unit 10 being offered by way of a 12 month rental guarantee
- Passing Rent of £115,340 per annum
- We are instructed to seek offers in excess of £1,600,000 (ONE MILLION, SIX HUNDRED THOUSAND POUNDS), subject to contract.
- A purchase at this level shows an initial yield of 7.5%* based on usual purchase costs and a reversionary yield of 9.1%* Capital Value £113 per sq ft
*Assuming a 12-month rental guarantee on Unit 10.
Property Facts
| Price | $2,112,881 | Property Subtype | Warehouse |
| Price Per SF | $150.94 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.90 AC |
| Cap Rate | 7.50% | Rentable Building Area | 13,998 SF |
| Tenure | Freehold | No. Stories | 1 |
| Property Type | Industrial | Year Built | 1990 |
| Price | $2,112,881 |
| Price Per SF | $150.94 |
| Sale Type | Investment |
| Cap Rate | 7.50% |
| Tenure | Freehold |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | B |
| Lot Size | 0.90 AC |
| Rentable Building Area | 13,998 SF |
| No. Stories | 1 |
| Year Built | 1990 |
Amenities
- Yard
- Automatic Blinds
- Common Parts WC Facilities
Utilities
- Lighting
- Water
- Sewer
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
The industrial estate comprises of end and mid terrace light industrial units of steel portal frame construction with brick/block walls surmounted by lined corrugated sheet cladding and similarly clad pitched roofs. Each unit has separate pedestrian and roller shutter vehicular access doors together with allocated staff/WC facilities and in some cases, offices. Externally, there is allocated parking, 1 roller shutter door and yard. The unit has been fully refurbished to include new WC, LED Lighting, Respraying Cladding, Roller Shutter Door and a new UPVC Front door. Comprehensively refurbished starter units immediately available for occupation.
| Space | Size | Space Use | Build-Out | Available |
| Ground - Unit 10 | 1,110 SF | Industrial | Partial Build-Out | Now |
Ground - Unit 10
| Size |
| 1,110 SF |
| Space Use |
| Industrial |
| Build-Out |
| Partial Build-Out |
| Available |
| Now |
Ground - Unit 10
| Size | 1,110 SF |
| Space Use | Industrial |
| Build-Out | Partial Build-Out |
| Available | Now |
The industrial estate comprises of end and mid terrace light industrial units of steel portal frame construction with brick/block walls surmounted by lined corrugated sheet cladding and similarly clad pitched roofs. Each unit has separate pedestrian and roller shutter vehicular access doors together with allocated staff/WC facilities and in some cases, offices. Externally, there is allocated parking, 1 roller shutter door and yard. The unit has been fully refurbished to include new WC, LED Lighting, Respraying Cladding, Roller Shutter Door and a new UPVC Front door. Comprehensively refurbished starter units immediately available for occupation.
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Units 1-10 Crofton Dr
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