Cofton Road, Marsh Barton, Exeter EX2 8WQ
Reversionary Single-Let Industrial Warehouse Investment Opportunity
• Situated in a prominent position on the Marsh Barton Trading Estate, to the south of Exeter.
• 3.8 miles from the M5 connecting the city to the national motorway network.
• Single let purpose built industrial warehouse totalling 24,955 sq ft GIA.
• Long leasehold interest at a rent passing of £5,375 per annum with 148 years unexpired.
• FRI 15 year lease with a remaining unexpired term of 2.1 years.
• Low passing rent of £125,000 per annum (£5.01 psf), reflecting a net income of £119,625 per annum, providing excellent growth prospects.
• ERV of £6.00 per sq ft, £149,730 per annum.
• Offers in excess of £1,670,000 (One Million, Six Hundred and Seventy Thousand Pounds) subject to contract and exclusive of VAT for the long leasehold interest.
• A purchase at this level would reflect a net initial yield of 6.75%, a reversionary yield of 8.14% and an equivalent yield of 7.89%, after standard purchaser’s costs of 6.17%.
• Low capital value of £66.92 per sq ft.