Industrial & Logistics

Bibby Distribution, Worcester

Woodbury Lane Worcester, Worcestershire United Kingdom WR5 2PT
Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

I accept the confidentiality agreement

You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

I accept the confidentiality agreement

You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Property Reference Number 100120717318
Tenure Type Freehold
Building Area
Land Area

Property Description

The Property was developed in 2000 and consists of a two bay modern distribution warehouse of steel portal frame construction extending to 92,374 sq ft (8,581.83 sq m) GIA. The Property incorporates well maintained ancillary office accommodation over two floors.

Investment Highlights

  • A modern, strategically located distribution warehouse with immediate access to Junction 7 of the M5 Motorway.
  • A self-contained distribution warehouse benefiting from the following specification:
    • Built in 2000
    • 9m eaves
    • 43 m secure yard
    • 2 storey ancillary offices
  • The unit extends to 92,374 sq ft (8,581.83 sq m) GIA
  • 4.43 acre (1.80 hectare) site reflecting a low site cover of 48%
  • Freehold
  • The Property is let in its entirety to the established third Party Logistics provider Bibby Distribution Ltd (Dun & Bradstreet rating 4 A2)
  • Bibby Distribution Ltd have recently re-geared their existing lease to provide a new 5 year reversionary lease until 7th October 2025, equating to an unexpired term of 5.2 years to expiry
  • Current passing rent of £510,000 per annum equating to £5.52 per sq ft
  • We are instructed to seek offers in excess of £7,900,000 (Seven Million Nine Hundred Thousand Pounds) reflecting a Net Initial Yield of 6.05% (assuming purchaser’s costs of 6.66%) and a capital value of £85.52 per sq ft subject to contract and exclusive of VAT
Last Updated Date: 21 Aug 2020
Simon Bennett
Simon Bennett
Director - Capital Markets
Allan Wilson
Allan Wilson
Director - Capital Markets

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Last Updated Date: 21 Aug 2020

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