Commercial property
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Freehold Multi Let Warehouse / Showroom / Office Investment: Vicon House, Western Way, Bury St Edmunds

Investment for sale
£3,330,000 / NIY 8.00%
Summary
  • Multi let warehouse, showroom and office investment set in a major retail and commercial cluster and located directly opposite a busy ASDA Superstore and adjacent to new retail warehousing (B&M Homestore, The Range) 2 miles to the west of the Bury St Edmunds town centre
  • Proposed new £100m - £125m development at Western Way for new state of the art leisure facilities,
  • health, education and commercial uses on one site
  • A two storey structure together with three self contained buildings, providing a total floor area of 4,601.09 sq m (49,527 sq ft) and 154 car spaces, part of which are covered in an undercroft
  • Site of 0.811 hectares (2.0 acres)
  • Range of uses including warehouse, showroom, offices, storage and workshop
  • Attractive car parking ratio of 1:322 sq ft
  • Let to 6 tenants providing a total income of £283,825 per annum (£5.49 per sq ft overall)
  • Most leases off rebased rents agreed in 2017 and 2018 - one is subject to minimum RPI uplifts
  • AWULT of 7.09 years
  • Medium term potential to redevelop for higher value uses subject to obtaining statutory consents
  • Offers sought in excess of £3,330,000 for the freehold interest, subject to contract and exclusive of VAT, reflecting an attractive net initial yield of 8.00% assuming standard purchaser’s costs of 6.48%. This reflects a low capital value rate of £67.23 per sq ft overall
Done
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