Outstanding Investment let by way of a 10 year lease from the 9th January 2017 to Rexel UK Limited a leading wholesale electrical distributor with a Turnover of £705m and Operating Profit of £1.1m (2023). The current passing rent is recorded as being £51,500 pa, which at the asking price of £925,000 represents a gross yield of 5.57% with potential for rental growth at the point of renewal on the 8th January 2027.

Property Description:

Unit 8 Phoenix Park is a modern steel portal frame industrial warehouse unit with full height insulated profile cladding under a pitched insulated clad roof incorporating natural lighting panels. Constructed in 2016, this modern unit benefits from having full height (6.24m) loading/warehouse area from the roller shutter all the way to the rear. The remainder of the unit comprises a trade counter with offices and customer WC at ground floor level. There is a mezzanine immediately above consisting of stores, male and female WCs an kitchen/staff room.

On site parking, open and accessible external loading area, 3 phase electric and what must be one of the most prominent positions in the city are just some of the benefits on offer.

The Investment:

This exciting opportunity can be offered either as a property sale or a transfer of a going concern. The property is let by way of a 10 year lease from the 9th January 2017 to Rexel UK Limited a leading wholesale electrical distributor with a Turnover of £705m and Operating Profit of £1.1m (2023). The current passing rent is recorded as being £51,500 pa, which at the asking price of £925,000 represents a gross yield of 5.57% with potential for rental growth at the point of renewal on the 8th January 2027.

Location:

The Property is situated on Phoenix Retail Park on the immediate edge of Longton town centre. Phoenix Park is accessed from the A50 and Baths Road, a short distance off the Foley Road interchange. The unit is situated at the end of the estate via Phoenix Way and immediately adjoins TK Maxx. The site is only accessible through a security barrier leading to a large shared car parking area.

Accommodation:

GROUND FLOOR
Trade Counter: 690 Sq ft (64.10 Sq m)
Warehouse: 4,052 Sq ft ( 376.43 Sq m)
Offices: 925 Sq ft (85.93 Sq m)
Stores: 166 Sq ft (15.42 Sq m)

MEZZANINE
Stores: 1,940 Sq ft (180.23 Sq m)
Staff Welfare Facilities: 224 Sq ft (20.81 Sq m)

Total Floor Area: 7,997 Sq ft (742.92 Sq m)

Rating:

The VOA website advises the rateable value for 2024/25 is £44,500. The standard non-domestic business rates multiplier is 54.6p. The small business multiplier is 49.9p up to a rateable value of £50,999. Small Business may benefit for upto100% on premises with a rateable value of up to £12,000 and a tapered relief for rateable values between £12,000 and £15,000.

Bjb recommends interested parties make their own enquiries into the business rate payable any further business rate relief which may be available.

Viewing:

Strictly by appointment via bjb commercial, Suite 1, Albion House, No.2 Etruria Office Village, Forge Lane, Festival Park, Stoke-on-Trent, ST1 5RQ
Telephone 01782 212201. Opening hours are 9.00-5.30pm, Monday to Friday.

Butters John Bee Estate Agents also offer a professional, ARLA accredited Lettings and Management Service. If you are considering purchasing your property in order to rent, are looking at buy to let or would like a free review of your current portfolio then please call the Lettings Branch Manager on the number shown above.

Butters John Bee Estate Agents is the seller's agent for this property. Your conveyancer is legally responsible for ensuring any purchase agreement fully protects your position. We make detailed enquiries of the seller to ensure the information provided is as accurate as possible. Please inform us if you become aware of any information being inaccurate.