12-12 Steel Close 2,793 SF Industrial Unit Offered at £302,500 in Eaton Socon PE19 8TT
INVESTMENT HIGHLIGHTS
- Modern Industrial unit of steel portal frame construction
- Well established commercial location
- REVISED PRICE
- Open Market Letting last year
- Convenient access to A1, A428 and A421
EXECUTIVE SUMMARY
St Neots is a well known market town situated in Cambridgeshire close to its border with Bedfordshire. It has a population in excess of 40,000 and is considered the fastest growing town in the County. The town forms part of the “Oxford-Cambridge” Arc, a globally significant area supporting over 2 million jobs which is one of the fastest growing economies in the Country. The town is located approximately 60 miles north of London, 19 miles west of Cambridge, 30 miles south of Peterborough and 11 miles north east of Bedford. St Neots has excellent road communications being at the intersection of the A1 and A428 and A421. The property is situated in the Eaton Socon part of town on Steel Close off Little End Road which in turn links with The Great North Road which then leads to the A1 a mile to the south. The area around Little End Road is one the principle industrial areas of the town.
PROPERTY FACTS
| Price | £302,500 |
| Unit Size | 2,793 SF |
| No. Units | 1 |
| Total Building Size | 2,793 SF |
| Property Type | Industrial (Unit) |
| Property Subtype | Service |
| Sale Type | Investment |
| Building Class | B |
| Number of Floors | 2 |
| Typical Floor Size | 2,136 SF |
| Year Built | 1985 |
| Tenancy | Single |
| Lot Size | 0.60 AC |
| Sale Condition | Direct Exchange |
1 UNIT AVAILABLE
Unit 12
| Unit Size | 2,793 SF |
| Price | £302,500 |
| Price Per SF | £108.31 |
| Unit Use | Industrial |
| Sale Type | Investment |
| Tenure | Freehold |
| Net Initial Yield | 8.00% |
| NOI | £24,200 |
| Sale Conditions | Direct Exchange |
DESCRIPTION
The property comprises a mid-terrace industrial/warehouse unit with profiled steel cladding over a portal frame with block cavity walls and concrete floor.
SALE NOTES
REVISED PRICE £302,500.00 exclusive of VAT (three hundred and forty four thousand two hundred and fifty pounds) Subject to Contract.
A sale at this level reflects a net initial yield of 8% allowing for usual purchaser’s costs of 3.33%.
A 5 year FRI lease to The Business Printing Company LLP ( company number OC343498) from 25/08/2023 outside the Landlord and Tenant Act 1954(II) as amended in respect of security of tenure.
The tenant is a local family business printer established in St Neots for over 30 years. For the year ending 31st March 2023, the tenant’s accounts recorded net assets of £293,000.
MAJOR TENANT INFORMATION Click Here to Access
| TENANT | SF OCCUPIED | LEASE END DATE |
|---|---|---|
| The Business Printing Company LLP |
99,999 SF SF
|
Jan 0000
|
AMENITIES
- Fenced Plot
- Yard
- Accent Lighting
- Roller Shutters
- Storage Space
- Air Conditioning
UTILITIES
- Gas
- Water
