Modern Single Let Distribution Unit with Low Site Cover.
Well located adjacent to M66 Motorway with easy access to M60 interchange c. 0.5 mile south.
Total area of 55,997 sq ft.
Situated on large site of 11.03 acre - 6.12 acres net usable.
Overall low site coverage of 15%.
Estimated yard overage of 3.25 acres.
Let to Garic Limited (December 2023 – Shareholders funds: £24.9m) with a parent guarantee from Bibby Holdings Ltd (December 2023 – Shareholders funds: £41.5m).
Tenant recently agreed to remove October 2025 break clause and provide further lease term with expiry on 6th October 2035 (10.2 years unexpired).
Passing rent of £457,000 per annum subject to 5 yearly upwards only OMRV rent reviews with the next to take place on 7th October 2025.
This breaks down to £6psf on the warehouse and c. £37k per acre on 3.25 acres overage.
ERV of £752,225 per annum (£8.50 psf warehouse and £85k / acre on 3.25 acres overage).
