1 Staniers Way 38,038 SF Industrial Unit Offered at £3,665,000 in Hereford HR1 1JT
EXECUTIVE SUMMARY
The Property comprises a 38,038 sq ft (3,534 sq m) industrial building of steel portal frame construction with brick and steel-clad elevations. HCC also occupies the adjoining unit which is under separate ownership. They have merged the two units together as part of their production facility. Externally there is a concrete surface loading yard and two loading doors to the southern elevation. There is a separate tarmac surface car park on the eastern side of the building. There are single storey offices also to the east elevation. Hereford Contract Canning is located off Roman Road, A4103 on the north side of Hereford. This is the main road out of Hereford to Worcester and the M5. The surrounding areas are made up of industrial, automotive retail and farmland. Hereford train station is 2 miles to the south providing services to Welsh and Midland cities.
PROPERTY FACTS Sale Pending
| Price | £3,665,000 |
| Unit Size | 38,038 SF |
| No. Units | 1 |
| Total Building Size | 91,432 SF |
| Property Type | Industrial (Unit) |
| Property Subtype | Warehouse |
| Sale Type | Investment |
| Building Class | B |
| Number of Floors | 1 |
| Typical Floor Size | 91,432 SF |
| Year Built | 1987 |
| Lot Size | 5.60 AC |
| Sale Condition | Sale & Leaseback |
AMENITIES
- Yard
1 UNIT AVAILABLE
Unit 1
| Unit Size | 38,038 SF |
| Price | £3,665,000 |
| Price Per SF | £96.35 |
| Unit Use | Industrial |
| Sale Type | Investment |
| Tenure | Freehold |
| Net Initial Yield | 7.25% |
| NOI | £265,712.50 |
| Sale Conditions | Sale & Leaseback |
DESCRIPTION
The Property comprises a 38,038 sq ft (3,534 sq m) industrial building of steel portal frame construction with brick and steel-clad elevations. HCC also occupies the adjoining unit which is under separate ownership. They have merged the two units together as part of their production facility.
Externally there is a concrete surface loading yard and two loading doors to the
southern elevation. There is a separate tarmac surface car park on the eastern side of the building. There are single storey offices also to the east elevation.
SALE NOTES
We are instructed to seek offers in excess of £3,665,000 (Three Million, Six Hundred and Sixty Five Thousand Pounds) Subject to Contract and exclusive of VAT. A purchase at this level is reflective of a net initial yield of 7.25% and low capital value of £96 psf allowing for purchasers costs of 7.54%
