An opportunity purchase a freehold industrial site currently situated on the Quarry Farm Industrial Estate in the town of Hawton in Nottinghamshire. The property comprises of an industrial site extending to 0.486 hectares (1.2 acres) and is used as an asphalt manufacturing facility. With a current rental income of £32,596.96 p.a. this investment offers a current gross yield of 7.67% AER.
Ref: FAP/TAL1000234
Further details
Description
An opportunity to acquire this substantial freehold industrial site extending to 0.486 hectares (1.2 acres) and is used as an asphalt manufacturing facility, with the two principle buildings on site comprising an 8 bay open fronted store with partial concrete lined walls and a traditional block and corrugated workshop building enclosing the coating plant. There is also a weighbridge and two porta-cabins providing office and staffroom facilities.
Location
Newark is an historic and thriving market town with a population of around 90,000 (2001 Census). The property is located two miles south of Newark in the semi-rural town of Hawton. It is within 1.75 miles of the A1 trunk road, which provides excellent transport links throughout the region. The town is situated near the junction of the A1, A46 and A17 trunk roads and with rail services via the East Coast mainline to London and local services to the surrounding larger centres of Lincoln and Nottingham which are approximately 15 and 19 miles away respectively.
Tenancy, Rent & Reviews
Tenant: Aggregate Industries UK Ltd (Co. Reg. No.: 245717)
Rent: £32,596.96 Payable 3months in advance.
The current gross yield is 7.67% AER.
The site is currently let out to Aggregate Industries UK Ltd. There is 14 years remaining on the lease with an option to break in 2017. Rent reviews are 3 yearly with the next review imminently due in July 2008.
Tenant Information
Aggregate Industries operates businesses within the UK, Channel Islands and northern Europe under three divisions; Aggregate Products UK, Building Materials and Cementitious Materials. Based in the UK, the company is a leading supplier of aggregates and construction and building materials to the construction industry. In the UK it is the fourth largest aggregates producer, the second largest asphalt producer, the fourth largest ready-mixed concrete producer, a leading manufacturer of pre-cast concrete products and a major surfacing and civil engineering contractor.
Total turnover in 2006 was £1,176 million (2005: £991 million).
Proposal
The vendor is seeking £425,000 for the Freehold interest of this Industrial site and unit Subject to Contract.