Investment Property for sale

Unit 7 Pintail Business Park, 165 Christchurch Rd, Ringwood BH24 3AL


£285,000
1,980 ft²

Description

INVESTMENT SUMMARY



Pintail Business Park is a small trade warehouse/business unit development located to the south of Ringwood Town Centre adjoining the B3347 Christchurch Road
184 sq. m. (1,980 sq. ft.)
Let to Hyphose Limited
Lease for a term of 6 years from 5th July 2016
Rent £18,500 pa.
Price £285,000 reflecting a net initial yield of 6.3% after purchaser's costs of circa. 3%
LOCATION

Pintail Business Park immediately adjoins the busy B3347 Christchurch Road approximately 0.5 mile to the south of Ringwood town centre. The units enjoy easy vehicular access via the B3347 Christchurch Road to the A31 dual carriageway which links Ringwood to Southampton and the National Motorway network to the east and Bournemouth and the Poole conurbation to the west. The A338 also provides a direct link to Salisbury to the north.

In recent years Ringwood has proved an extremely popular business location demonstrated by the success of developments such as Pintail Business Park and the adjoining Forest Gate Business Park. Local occupiers include Elliotts Builders Merchants, McCarthy & Stone, Eberspacher, Bellway Homes and CoMax UK.

Pintail Business Park also immediately adjoins the recently constructed Lidl supermarket.

DESCRIPTION

The property comprises an end of terrace business unit constructed in 2016. The unit incorporates a full first floor which has been fitted out to provide high quality office accommodation.

TENANCY DETAILS

The property is let in its entirety to Hyphose Limited for a term of 6 years from 5th July, 2016. The current passing rent is £18,500 pa.

The property is currently occupied by Manta Makes Limited by way of a sublease which expires on 1st July, 2022. The current passing rent under the terms of the sublease is £18,500 pa. The sublease is excluded from the security of tenure provisions contained within Sections 24-28 of the Landlord and Tenant Act 1954.

COVENANT

Hyphose Limited is a company formed in 1980 as a premier supplier of hose products to the industrial/automotive/marine sectors. For the year ended 31.12.2019 the company had net assets of £371,000.

PRICE

£285,000 - Reflecting a net initial yield of 6.3% after purchaser\\\'s costs of circa. 3.0%.


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Categories

Investment PropertyCommercial Investment Property
Property reference
W.10576
staff

Simon West