Blackstone Road, Stukeley Meadows Industrial Estate, Huntingdon, Cambridgeshire, PE29 6EF

Refurbished Industrial / Warehouse with Large Yard

• Property specification

  • Well-positioned freehold industrial/warehouse, offering low site cover and strong appeal for occupiers and investors.
  • Totalling 1,974.9 sq m (21,258 sq ft) GIA.
  • Site area approximately 1.6 acres (0.646 hectares) - low site cover of 29.5%
  • 7.36m eaves height, and a clear height of 6.11m to underside of truss.
  • Let to Stair Formwork Limited on a new 10 year lease from 28 April 2025, subject to a tenant break at the 5th year subject to 6 months notice and a Schedule of Condition, to be prepared once the tenant's works are completed.
  • The lease is outside the L&T Act 1954.
  • Passing rent of £150,000 pa (£7.24 per sq ft) subject to an upward only open market rent review on 28th April 2030.
  • A 6-month rent concession was agreed towards the tenant's fit out, dealt with as half rent for the first 12 months of the term. This will be topped up by the vendor.
  • Tenant has refurbished and fitted out the property including, modernisation of office space, redecoration of warehouse area, installation of new security system, various external works including clearance of most of the large yard.
  • £2,000,000 / NIY 7.00%

• Lease terms

  Offers sought in excess of £2,000,000, subject to contract and exclusive of VAT. A purchase at this level reflects an attractive Net Initial Yield of 7.00%, assuming standard purchaser's costs of 6.72%. Capital value of £97.30 per sq ft.