Unit 1, 1A and 1B, Holmer Trading Estate, College Road, Hereford, HR1

The property comprises a multi let industrial estate currently arranged to provide three units and one self contained yard. The buildings area of portal frame construction partly clad in insulated profile metal sheets. Eaves heights are around 5.3metres in parts. We note that the site extends to around 1.972 acres (0.798 ha).

Unit 1 is the largest unit on the estate and most recently occupied as a car repair and servicing garage. The accommodation comprises several bays of workshops, offices, staff facilities, stores along with an area of mezzanine offices and stores. There is also a basement store room. There is an external area of secure yard and parking.

Unit 1 extends to a gross internal area of approximately 24,800 sq ft (2,304 sq m), including first floor ancillary areas.

Unit 1a provides a single bay warehouse, currently occupied by Boulder Barn as an indoor climbing centre. Internally the accommodation provides an open warehouse area, café, with a tenants’ mezzanine lounge area with offices and climbing area. There is an external area of secure yard and parking.

The unit extends to a gross internal area of approximately 5,900 sq ft (548 sq m), excluding mezzanine.

Unit 1b is a single bay warehouse occupied for storage purposes. The property extends to approximately 5,700 sq ft (530 sq m). There is an external area of secure yard and parking.

The Yard provides basic external storage. It is mainly gravel surfaced and is securely metal mesh fenced, with a palisade access gate. We understand that water is available on site. The yard extends to approximately 0.30 acres (0.12ha).

Investment

The property is currently let producing £65,000 pa, with unit 1 and the yard currently vacant. Unit 1 is currently being marketed at a rental of £124,000 per annum and the yard is available at a rental of £15,000 per annum.

Proposal

We are inviting offers in excess of £2,000,000, exclusive, subject to contract.

Noting the part vacant status, this represents a net initial yield of 3.06% and a potential net reversionary yield of 9.60%.

Energy Performance

Unit 1 has an EPC rating of band C, with a score of 57 points.
Unit 1A has an EPC rating of band B, with a score of 50 points.
Unit 1B has an EPC rating of band C, with a score of 57 points.

Copies of the EPCs are available upon request.

Rateable Value

Details of business rates assessments are available upon request.

Tenure

We understand that the property is of freehold tenure, subject to existing tenancies.

VAT

All amounts are quoted exclusive of VAT, which is payable in addition to the purchase price at the prevailing rate.

Anti-Money Laundering

In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser.

Location

The property is set back from the east side of College Road, at the end of Holmer Trading Estate, approximately one mile north east of Hereford city center. The property forms part of an established industrial estate, with some new build housing also nearby.

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