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Rowland Rd 43,926 SF Industrial Building Scunthorpe DN16 1ST $6,211,895 CAD ($141.42 CAD/SF) 6.97% Cap Rate
Investment Highlights
- 6.97% NIY
- Current rent passing is £235,000 per annum
- Freehold For Sale
Executive Summary
The property is arranged around a main steel portal framed trade counter, showroom and warehouse with central customer car parking, with trade and servicing access around all elevations. In addition, there is an older warehouse/”heavy goods” storage building located to the rear of the site. The site area extends to 4 acres and benefits from security fencing around the whole perimeter. The building to site ratio is 21.6% providing large areas of well surfaced open yard/material storage.
The property is let to Huws Gray Ltd for a term of 15 years from 1st January 2024 with 5 yearly upward rent reviews on Full Repairing and Insuring terms, with a Tenant Only break clause upon the 10th anniversary of the term (1st January 2034). Current rent passing is £235,000 per annum, increasing to £245,000 per annum in January 2028.
The property is let to Huws Gray Ltd for a term of 15 years from 1st January 2024 with 5 yearly upward rent reviews on Full Repairing and Insuring terms, with a Tenant Only break clause upon the 10th anniversary of the term (1st January 2034). Current rent passing is £235,000 per annum, increasing to £245,000 per annum in January 2028.
Property Facts
| Price | $6,211,895 CAD | Building Class | B |
| Price Per SF | $141.42 CAD | Lot Size | 4.00 AC |
| Sale Type | Investment | Rentable Building Area | 43,926 SF |
| Cap Rate | 6.97% | No. Stories | 3 |
| Tenure | Freehold | Year Built | 1990 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Showroom | Parking Ratio | 0.63/1,000 SF |
| Price | $6,211,895 CAD |
| Price Per SF | $141.42 CAD |
| Sale Type | Investment |
| Cap Rate | 6.97% |
| Tenure | Freehold |
| Property Type | Industrial |
| Property Subtype | Showroom |
| Building Class | B |
| Lot Size | 4.00 AC |
| Rentable Building Area | 43,926 SF |
| No. Stories | 3 |
| Year Built | 1990 |
| Tenancy | Single |
| Parking Ratio | 0.63/1,000 SF |
Amenities
- Yard
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