Industrial & Logistics

Units 5-8 Curlew Trade Park, Threemilestone, Truro TR4 9LG

Unit 5 Threemilestone Industrial Estate Truro, Cornwall United Kingdom TR4 9LG
Asking Price
Area Size
NOI Net Operating Income
Cap Rate

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Property Reference Number 100041023484
Year Built 2000
Building Area Gross
Occupancy 100.0 %

Property description

The property comprises 4 high quality trade counter units, constructed in the early 2000’s of steel portal frame construction. The units are arranged in two semi-detached terraces and the specification includes profile metal sheet elevations and roof with internal brick elevations. 


The units have an eaves height of 5.6 metre eaves on Unit 7 & 8 and 4.1 metre eaves on unit 5 & 6. The units range in size from 2,032 sq ft to 6,321 sq ft. Each unit benefits from its own trade counter entrance, forecourt for loading and deliveries with both up and over and roller shutter doors. 


The units comprise the following specification: 


  • Steel portal frame construction
  • Internal brick-built elevations
  • Profile metal sheet clad roof
  • Up and over/roller shutter doors
  • Eaves height of between 4.1-5.6 metres
  • Trade counter entrance
  • Personal forecourt for loading and deliveries

Investment highlights

  • A high quality prominent, multi let trade counter estate located on the established Threemilestone Industrial Estate in Truro
  • 4 units arranged in two terraces built in the early 2000’s to a high specification
  • The property extends to 17,463 sq ft (1,622 sq m) GIA
  • 0.93 acre (0.38 hectare) site reflecting a low site coverage of 35%
  • Freehold
  • WAULT of 6.59 years to expiry and 4.34 years to break
  • Current passing rent of £113,500 per annum equating to circa £6.50 per sq ft overall reflecting 52% discount on recently achieved prime levels
  • 69% of income is secured against national trade counter occupiers with D&B rating of 4A1 and 5A1
  • We are instructed to seek offers in excess of £1,900,000 (One Million Nine Hundred Thousand Pounds) subject to contract and exclusive of VAT
  • Net Initial Yield of 5.62% (assuming purchaser’s costs of 6.25%) and a current Reversionary Yield of 6.89%
  • Capital Value of only £108.80 per sq ft which is significantly underpinned by vacant possession values
  • The forecasted yields are outlined below:
    • Net Initial Yield - 5.62%
    • Yield upon the completion of Unit 8’s outstanding review - 6.16%
    • Yield upon Unit 6’s rent review - 6.47%
    • Full Reversionary Yield - 6.89%
Last Updated Date: 11 Jul 2022

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Last Updated Date: 11 Jul 2022

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