Design Plus Health, Northgate, White Lund Industrial Estate, Morecambe, LA3 3PA

Morecambe, LA3 3PU

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Acquired
Design Plus Health, Northgate, White Lund Industrial Estate, Morecambe, LA3 3PA
Price £2,190,000
Rent (pa) £175,000
Yield 7.5%

Investment Summary

  • Multi-bay, single-let industrial building located on White Lund Industrial Estate, Morecambe
  • Extremely prominent position on corner of Northgate and the new A683 South Morecambe by-pass
  • Property extends to 43,295 sq ft on a site of 2.02 acres (47% site coverage)
  • Let to Design Plus Health & Beauty Ltd on an FRI lease expiring March 2029 (5.5 years to break)
  • Secured to a well established and profitable tenant
  • Low passing rent of £175,000 (£4.00 psf)
  • Outstanding rent review from March 2023 (ERV c. £5.25 psf)
Town Morecambe
Postcode LA3 3PU
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