Investment Properties: Canada Dock Exchange, Junction Road, Liverpool L20 8AD
Canada Dock Exchange, Junction Road, Liverpool L20 8AD
OIEO £3,100,000 subject to contract - Freehold
- Prime Distribution Investment built in 2016.
- Liverpool is one of the UK’s major cities & the 2nd fastest growing economy outside of London.
- Highly prominent 60 metre frontage to a key arterial route into Liverpool city centre.
- Established location 2 miles (3.2 km) north of Liverpool city centre.
- High specification distribution / trade counter unit providing 30,463 sq ft (2,830 sq m) on a site of 1.73 acres (40% site cover).
- Let to CCF Limited (Dunn & Bradstreet 5A 2).
- 10.67 years term certain.
- Reversionary passing rent of £165,000 per annum, reflecting only £5.42 per sq ft.
- Rent review due in August 2021 providing an opportunity to increase the passing rent.
- Estimated Rental Value of £6.00 per sq ft.
- The tenant has removed a break option and has signaled their intention to expand within the property demonstrating their long term commitment to the property and the location.
- We are instructed to seek offers in excess of £3,100,000 (Three Million, One Hundred Thousand Pounds), subject to contract.
- A purchase at this level reflects an attractive Net Initial Yield of 5.0% (allowing for purchaser’s costs at 6.461%) and a low Capital Value of £102.50 per sq ft.
- Applying an ERV of £6.00 per sq ft there is reversion to 5.5% Net Reversionary Yield.