Industrial Unit | Bessemer Rd
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Industrial Unit Bessemer Rd
4,155 SF 100% Leased Industrial Building Norwich NR4 6DQ £340,000 (£82/SF) 13.11% Net Initial Yield
Investment Highlights
- Car parking.
- Industrial Recording Studio.
- Great location.
Executive Summary
Offers are invited £340,000.
The property comprises a substantial ground floor industrial unit arranged as recording studios. The tenant has fitted out the building as Recording, DJ, Band and Podcast Studios. Tenancy Let to Pirate Studios Properties Limited on a 15 year FRI lease from 05.09.2019 expiring 04.09.2034. The lease provides for a rent review every 5th year to RPI (1% & 4% cap and collar) at a rent of £44,561 pa. Please note the current rent passing is £30,000 pa however the vendor will top up the completion monies so that the property effectively produces £44,561 pa from completion of the sale until the increase rent gets implemented.
The property comprises a substantial ground floor industrial unit arranged as recording studios. The tenant has fitted out the building as Recording, DJ, Band and Podcast Studios. Tenancy Let to Pirate Studios Properties Limited on a 15 year FRI lease from 05.09.2019 expiring 04.09.2034. The lease provides for a rent review every 5th year to RPI (1% & 4% cap and collar) at a rent of £44,561 pa. Please note the current rent passing is £30,000 pa however the vendor will top up the completion monies so that the property effectively produces £44,561 pa from completion of the sale until the increase rent gets implemented.
Property Facts
| Price | £340,000 | Building Class | C |
| Price Per SF | £82 | Rentable Building Area | 4,155 SF |
| Sale Type | Investment | Number of Floors | 1 |
| Net Initial Yield | 13.11% | Year Built | 1939 |
| Tenure | Freehold | Clear Ceiling Height | 12 ft 9 in |
| Property Type | Industrial | No. Dock-High Doors/Loading | 1 |
| Property Subtype | Service |
| Price | £340,000 |
| Price Per SF | £82 |
| Sale Type | Investment |
| Net Initial Yield | 13.11% |
| Tenure | Freehold |
| Property Type | Industrial |
| Property Subtype | Service |
| Building Class | C |
| Rentable Building Area | 4,155 SF |
| Number of Floors | 1 |
| Year Built | 1939 |
| Clear Ceiling Height | 12 ft 9 in |
| No. Dock-High Doors/Loading | 1 |
Amenities
- 24 Hour Access
- Fenced Lot
- Yard
Utilities
- Lighting
- Water - City
- Sewer - City
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Industrial Unit | Bessemer Rd
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