Units 3 & 10, Furness Business Park, Peter Green Way, Barrow-In-Furness LA14 2PE

Barrow-in-Furness, LA14 2PE

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Units 3 & 10, Furness Business Park, Peter Green Way, Barrow-In-Furness LA14 2PE
Price £1,750,000
Rent (pa) £166,469
Yield 5.95%

Investment Summary

  • Well-located on Furness Business Park in the heart of Barrow-in-Furness
  • Two single let modern industrial units totalling 36,993 sqft
  • Unit 3 measures 19,810 sqft,
  • Unit 10 measures 17,183 sqft
  • Let to Diamould Limited on two co-terminus leases w.e.f 2nd July 2014, expiring 1st July 2024, thereby 2.5 years unexpired
  • Total rent of £110,588 per annum, reflecting a low rent of £2.99 psf
  • July 2019 rent review outstanding
  • Estimated reversionary rent of £166,469 per annum (£4.50 psf)
  • Virtual freehold (998 year long leasehold at a peppercorn)
  • Investment fully underwritten by vacant possession value
  • Offers in excess of £1,750,000 (STC)
  • Net Initial Yield of 5.95%
  • Est. Reversionary yield of 8.85%
  • Low Capital Value of £47 psf
Town Barrow-in-Furness
Postcode LA14 2PE
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