UNIT 8&9 SEAWAY PARADE, BAGLAN, PORT TALBOT, SA12 7BR

TO BUY

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Size: 11,169 sqft (1,037.63 sq m)

Price: £900,000


TO BUY

INVESTMENT

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Key features

  • Strategic industrial & distribution location within 2 miles of the M4 motorway
  • Long income multi-let industrial asset with WAULT of over 10 years
  • Semi-detached units with self-contained yard areas
  • 11,169 sq ft on a site of 0.57 acres
  • Long Leasehold at a peppercorn
  • Fully let to 2 tenants
  • Passing rent of £67,500 per annum (£6.04 per sq ft)
  • RPI linked rent reviews on Unit 9
  • Unit 9 recently refurbished
  • 55% of income secured on 15 year lease to Margam Energy Ltd (Schroders Greencoat)
  • Asset management opportunities

LONG INCOME MULTI-LET INDUSTRIAL INVESTMENT

Description

The property comprises two semi-detached industrial units of steel portal frame construction, on a self-contained site.

  • Maximum eaves height of 6.14 metres (5.26 metres minimum).
  • LED lighting
  • Dedicated, secure yard areas
  • Unit 9 has been refurbished providing new roof, roof lights and shutter door

Location

Excellent road communications are provided to Junctions 41 & 42 of the M4 motorway, within 2 miles of the property. Swansea is located 7 miles to the West via the A48 and A483 trunk roads. Seaway Parade Industrial Estate is strategically located at the entrance to Baglan Energy Park and is recognised as an established industrial, distribution, and trade location. Occupiers in the immediate vicinity include Speedy Hire, Plumbase, and Holt JCB.

Accommodation

Unit 8 = 5,584 sq ft (518 sq m) Unit 9 = 5,585 sq ft (518 sq m) The site totals approximately 0.57 acres (0.23 hectares)

Tenure and terms

The title is held on a 999 year lease from 6th May 1998 at a peppercorn. The Freehold is currently vested in The Crown and the vendor is in the process of acquiring the Freehold title. Further information available on request.

Rent / Price

Offers in excess of £900,000 (Nine Hundred Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 7.11% and a Capital Value of £81 per sq ft, assuming purchasers costs of 5.44%.

Legal costs

Each party responsible for their own legal and professional costs.

Energy Performance Certificate

Unit 8 = C(65) Expiry March 2034 Unit 9 = B(48) Expiry February 2034

Further information

For additional information or to arrange a viewing please contact:
  • Henry Best  07738 960012
  • henry@jenkinsbest.com
  • Tom Rees 07557 161491
  • tom.rees@willowford-am.co.uk
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Jenkins Best for themselves and for the vendor/lessor of this property whose agents they are give notice that:

  1. These particulars do not constitute any part of an offer or contract.
  2. All statements contained in these particulars are made without responsibility on the part of Jenkins Best for the vendor/lessor and nothing contained in these particulars is to be relied upon as a statement or representation of fact.
  3. Any intended purchaser/lessor must satisfy itself by inspection or otherwise as to the correctness of each of the statements contained in these particulars.
  4. The vendor/lessor does not make or give and neither Jenkins Best nor any person in their employment has any authority to make or give any representation/warranty whatsoever in relation to this property or any services.
  5. All terms quoted exclusive of VAT unless otherwise stated.
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