Cloverfield, Hinckley
- Excellent access to the A47 and A5/M69
- Currently interconnected but could be split
- Passing rent £61,500 pax (£6.90 per sq ft)
- Estimated rental value £72,000 (£8.25 per sq ft)
- GIA - 10,810 sq ft (1,004 sq m)
Industrial
For Sale: £975,000
10,810 Sq Ft (1,004.25 Sq M)
Description
The property comprises two interconnected industrial units together with ancillary offices, constructed of steel portal frames with cavity brick and profile steel clad elevations beneath pitched sheet clad roofs. The accommodation provides a combination of warehouse, production and office space arranged over ground and first floors, with additional mezzanine storage areas. Loading access is provided via roller shutter doors (3.5m width x 4.0m height) and the accommodation includes reception, meeting rooms, kitchen and WC facilities. The internal eaves height is 5.3m to Unit 8 and 4.9m to Unit 7.
Externally, the property benefits from a concrete loading apron and on-site car parking to the front of the units. The units are connected by a pedestrian link and provide a total of 20 allocated parking spaces (some double parked).
Location
The property is located on the Hinckley Fields Industrial Estate, which is situated on the northern fringe of the Hinckley conurbation. The nearby A47 allows easy access to the A5, and subsequently the M69, to the southwest of Hinckley, together with Leicester to the north east. Clover Park itself benefits from security gate access to the site.
Hinckley is a market town with a population in the order of 55,000 (Local Authority 112,000) lying approximately 13 miles to the south west of Leicester. The town enjoys good motorway communications with junction 1 of the M69, being located on the south eastern fringe of the conurbation approximately 2 miles from the town centre.
Accommodation
| Size | Description | |
|---|---|---|
| Unit 7 | 2,012 Sq Ft (186.91 Sq M) | Ground |
| Unit 7 | 1,032 Sq Ft (95.87 Sq M) | Mezzanine |
| Unit 8 | 4,578 Sq Ft (425.3 Sq M) | Ground |
| Unit 8 | 1,511 Sq Ft (140.37 Sq M) | First |
| Unit 8 | 1,677 Sq Ft (155.79 Sq M) | Mezzanine |
Services
All mains services are connected to the subject property. Heating is provided by way of gas fired central heating systems served by panel radiators, with all office areas also benefiting from air conditioning.
Tenure
The Freehold interest in the property is available, subject to the lease in effect, at an asking price of £975,000, which reflects a Net Initial Yield of 6% based on the passing rent of £61,500 pax and a reversionary yield of 7.4% based on an estimated rental value of £8.25 per sq ft (£72,000 pax). This reflects an approximate split of £700,000 (£110 per sq ft) for Unit 8 and £275,000 (£125 per sq ft) for Unit 7.
The property is let to 13 Amp Limited on an effectively FRI lease for a term of 5 years from 13 July 2024, at a passing rent of £61,500 per annum exclusive plus VAT. The lease expires on 12 July 2029 and provides for a market rent review in July 2027. The tenant is responsible for repairs and reimburses the landlord for insurance costs.
Legal Costs
Each party to bear their own legal costs.
Energy Performance Certificate
EPC Rating - to be supplied