Crest Medical, Units 1-4 Chesford Grange, Warrington WA1 4RQ
Reversionary, Prime Distribution Warehouse Investment Opportunity
• A well-located single let distribution unit situated within the popular and established Woolston Grange employment area.
• The property is strategically located with immediate access to junction 21 of the M6 motorway, providing access to the M62 and M56.
• Standalone distribution warehouse extending to 101,182 sq ft on a site area of 5.66 acres.
• Let to Crest Medical Ltd with an unexpired term of 5.6 years.
• Passing rent of £330,187 per annum, reflecting a low £3.25 per sq ft subject to review in July 2019.
• Estimated Rental Value of £455,320 pa (£4.50 psf) immediately available at July 2019 review.
• Offers in excess of £5,850,000 (Five Million EightHundred and Fifty Thousand Pounds) for our client’s Freehold interest in the property, subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 5.3%, with an immediate reversion to 7.3% in July 2019, after standard purchaser’s costs at 6.62% and a very low capital value of £57.82 per sq ft.