Parry Lane, Bradford, Investment

Description

MULTI-OCCUPIED INDUSTRIAL INVESTMENT OPPORTUNITY
Gross Rental Income £205,116 per annum
Gross Yield 13.5%
Overall Floor Area 2,842m² (30,591ft²)
Vacant Possession Value equivalent to £49.03 psf
The building is divided into a range of 18 industrial starter units, 2 office suites and 12 storage units accessed off a shared loading bay and having use of a shared yard and car parking area.

MULTI-OCCUPIED INDUSTRIAL INVESTMENT OPPORTUNITY Gross Rental Income £205,116 per annum Gross Yield 13.5% Overall Floor Area 2,842m² (30,591ft²) • Vacant Possession Value equivalent to £49.03 psf • The building is divided into a range of 18 industrial starter units, 2 office suites and 12 storage units accessed off a shared loading bay and having use of a shared yard and car parking area.

DESCRIPTION:

The property comprises a single storey industrial building which is partly constructed under a north light roof and partly under pitched steel truss roofs overclad in profile steel sheeting. The building has been divided internally to provide a range of industrial starter units and storage units which are fully occupied and generate a gross income of £202,560.
To the front of the building is a two storey office building which is constructed of brick under a flat roof.
The property has car parking for approximately 24 cars in a secure tarmacadam surfaced car parking area to the front which has a stone boundary wall and steel gated entrance. The overall site extends to approximately 0.72 acres.
The building is a former engineering factory divided to provide a range of starter units and extend from 120ft² to 4,375ft². In addition, there are offices of 540ft² and 2,836ft² and storage units. The letting of the units are marketed through www.bradfordindustrialunits.co.uk and are currently fully occupied generating an income of £205,116 per annum.
The occupiers pay an annual rent which is inclusive of business rates and maintenance to the building. Each occupier has their own sub-meter and the landlord recharges the cost of utilities to the tenants based on the readings on sub-meters.
The property presents a good opportunity to acquire high yielding industrial accommodation which is well maintained and is fully occupied by a variety of businesses.
The property benefits from having CCTV, fire alarm and security alarm for each unit and a shared loading bay.

LOCATION:

Bradford is the second largest city in West Yorkshire, having a population of 450,000. The city is served by the M606 motorway which links into the M62 and has good access to Leeds and Manchester. Bradford has a cosmopolitan population and is a densely populated city with a diverse economy and is on the fringe of the Yorkshire Dales.

The property is located in the Bowling district of Bradford approximately 2 miles to the southeast of Bradford city centre and is 1.5 miles to the northeast of the M606 motorway which connects Bradford with Junction 26 of the M62 motorway network. This is accordingly an accessible location and an area which generates good occupier demand for small industrial units of this nature.