Grimsby Seafood Village | Wickham Rd
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Grimsby Seafood Village Wickham Rd
71,364 SF 100% Leased Industrial Building Grimsby DN31 3SX £3,500,000 (£49/SF) 11.72% Net Initial Yield
Investment Highlights
- Food processing units ranging from 85.75 sq m (923 sq ft) to 680.96 sq m (7,330 sq ft) total area of 6,647.50 sq m (71,364 sq ft) approx
- Tenants include Marr Fish, UFI/Pelagia, North East Lincolnshire Council, Ideal Foods, Scofish, Ocean Bounty and Jaines
- High occupancy only 2 vacant first floor units
- Site area 1.614 Ha (4 acres) approx
- Passing rent of £525,612 per annum exclusive
- Net initial yield of 11.72%
Executive Summary
We understand that the site is held by way of a 125 year ground lease from the 1st October 2010 from Associated British Ports. The lease is within the Landlord & Tenant Act 1954 Part II. The current ground rent is £88,708 per annum payable quarterly in advance with the next rent review being due 1st October 2025 the rent is reviewed every 3 years in accordance with the Retail Price Index (RPI). The sale of the property wil be as an investment, subject to the existing tenancies contained within the tenant information. Al occupational leases are drawn on a standard ful repairing and insuring basis, most of which are excluded from the Landlord and Tenant Act 1954 Part II. Rent payable monthly in advance.
Property Facts
| Price | £3,500,000 | Building Class | B |
| Price Per SF | £49 | Lot Size | 0.94 AC |
| Sale Type | Investment | Rentable Building Area | 71,364 SF |
| Net Initial Yield | 11.72% | Number of Floors | 1 |
| Tenure | Freehold | Year Built | 2001 |
| Property Type | Industrial | Parking Ratio | 0.39/1,000 SF |
| Property Subtype | Distribution |
| Price | £3,500,000 |
| Price Per SF | £49 |
| Sale Type | Investment |
| Net Initial Yield | 11.72% |
| Tenure | Freehold |
| Property Type | Industrial |
| Property Subtype | Distribution |
| Building Class | B |
| Lot Size | 0.94 AC |
| Rentable Building Area | 71,364 SF |
| Number of Floors | 1 |
| Year Built | 2001 |
| Parking Ratio | 0.39/1,000 SF |
Amenities
- EPC - D
- Storage Space
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Grimsby Seafood Village | Wickham Rd
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