An opportunity to acquire the Headquarters of Tetrad Limited
A long-established British manufacturing company of the finest, hand-crafted furniture
Prominently located in a mixed-use location on the outskirts of Preston City Centre
Tetrad have operated from the property for over 45 years
Excellent access to the A59 which directly leads to Junction 31 of the M6 Motorway
The property extends to 152,191 sq ft on a site area of approximately 4.25 acres
10-year lease expiring July 2027 to Tetrad Limited (6 years unexpired)
Current passing rent of £277,871 per annum
The lease benefits from a fixed increase on 17th July 2022 to £322,129 per annum (vendor will top up to review) reflecting a low rent of £2.12 psf
ERV of £532,668 (£3.50psf)
The site provides longer-term redevelopment opportunities including residential (subject to planning permission) – the adjacent site has been redeveloped by Mulbury Homes. There is further scope to reconfigure to a trade counter scheme – new build trade counter units typically let for between £8 – £10 psf
Predominately held Freehold, with part Long leasehold at a ground rent of £10,000 per annum
