GATEWAY, White Lund Industrial Estate, Lancaster, LA3 3PB

For sale

Prominent industrial high-bay warehouse investment

Investment summary

  • Lancaster is strategically located in the North West of England, with direct access to Heysham Port, the M6 and national West Coast Mainline rail links.
  • White Lund Industrial Estate is the main employment area in the Lancaster District with significant future growth from improved infrastructure and an expanding nuclear and wind power
    industry accessed via Heysham Port.
  • Prime industrial warehouse unit, with a prominent frontage to the A683, Southgate and Millshaw Lane situated between Morecambe and Lancaster.
  • The property which could provide a single-let distribution unit, having previously been Reebok’s HQ, has been split up to form 6 self-contained, multi-let units.
  • Originally constructed in the 1970’s, in 1994 a substantial high-bay extension was added, with associated fuel tank and yard.
  • GIA of 266,241 sq ft (180,423 sq ft excluding mezzanines)
  • The property is held Freehold.


Proposal

We are seeking offers in the region of £5,970,000 (Five Million Nine Hundred and Seventy Thousand Pounds), which equates to a Net Initial Yield of 9.50% and a Reversionary Yield (after June 2016 fixed uplifts) of 9.71%. At this level it would provide a Capital Value of £33.09 psf (not including Tenants mezzanine). Subject to contract and after standard purchasers costs of 5.80%.

Location

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Next steps

Contact Us

Jonathan Brown
07736 491 004
jonathan.brown@capita.co.uk

Andrew Richardson
0161 819 4234
07544 588 768
andrew.richardson@capita.co.uk

CP Property Consultants
Colin Chivers
01925 596 560
07774 643 571
colin.cppc@live.co.uk