Houndhill Park, Dearne Valley

Description

Houndhill Park is located at the heart of the Dearne Valley in an area of established industrial development within easy reach of junctions 36 and 37 of the A1 (M) and junction 36 of the M1. Houndhill Park therefore, has excellent motorway access.

The development is at the heart of the Yorkshire conurbation and benefits from swift access to all major Cities including Leeds, Sheffield, Rotherham and Barnsley.

DESCRIPTION

Houndhill Park comprises a multi-let modern high specification industrial estate, comprising 10 units of sizes varying from 10,460 sq ft to 32,925 sq ft with the flexibility to combine or split units to suit tenant demand.

The units are of steel portal frame construction with pvc coated profile steel sheet cladding to walls and roofs with the specification including the following: -

- High quality office accommodation

- 35 kn per sq m floor loading

- 8m eaves height

- Multiple electronically operated roller shutter door access

- Generous yard areas and car parking throughout the estate

The estate provides a total floor area of 204,048 sq ft (18,,956 sq m).

TENANCIES

The property is fully let in accordance with the attached tenancy schedule with a total passing rental of £614,119 per annum exclusive.

Rental levels on the estate range from £2.00 sq ft to £6.40 sq ft providing a low base on a number of the units for future growth.

COVENANT STRENGTH

The estate offers exceptional covenant strength with tenants including Onyx Group Ltd, Police and Crime Commissioners and Levantina UK Ltd.

The property provides a significant level of long term income with 53% of the income secured in excess of 9 years and a wault (including breaks) of X years.

SERVICE CHARGE

There is a service charge administered on the estate for the maintenance and up keep of the common areas which is 100% recoverable.

VAT

The property has been elected for VAT.

PROPOSAL

Offers are invited in excess of £5.5m (five million and five hundred pounds), subject to contract and exclusive of VAT.

YIELD PROFILE

This shows a net initial yield of £10.55% after 5.8% purchasers costs with a reversionary yield taking into account the fixed uplifts on Units 2 and 3 of 11.0% in June 2016.

Address

Houndhill Park, Dearne Valley
Dearne Valley, Rotherham