Cargotec Industrial Park, Elson, Ellesmere, Shropshire
Offers in Region of  £1,475,000

  • Predominately let to Hiab Limited until 29th September 2022
  • Freehold
  • Multi-let industrial estate
  • Tenant in occupation at the site for over 25 years
  • Substantial programme of works recently undertaken by the Tenant
  • Asset management and development opportunities, subject to planning
  • Current passing rent: £131,500 per annum, exclusive of VAT
  • Seeking offers in the region of £1,475,000 exclusive of VAT

DESCRIPTION
Cargotec Industrial Park is a multi-let industrial estate comprising a mix of industrial and office buildings totalling approximately 47,045 sqft (4,370.61 sqm) on a site area of circa 8.11 acres or thereabouts.
The majority of the units are of steel portal frame construction with a brick base and corrugated metal over-cladding with the office building being of brick construction with tiled roofs.
The buildings are serviced by tarmacadam access roads and have the benefit of extensive concrete yard areas.
The estate is protected via secure gates.
Hiab Ltd made a number of improvements to Units D & E in 2018. These included the construction of a new internal canteen, locker room and toilets in Unit E and a new canteen in Unit D. These are block built structures with all alterations formally approved by way of a licence for alterations with the usual reinstatement provisions. The improvements to the buildings demonstrate the Tenant’s long term commitment to the site.

PROPOSAL
We are instructed to seek offers in the region of £1,475,000 (One Million, Four Hundred and Seventy Five Thousand Pounds) subject to contract and exclusive of VAT.

A purchase at this level reflects a net initial yield of 8.4% after allowing for usual purchaser’s cost of 6.1%.

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