Buntsford Business Centre, Buntsford Drive, Bromsgrove, Worcestershire, B60 3FR

Key Features

High Spec 2024 Development
Six Self-Contained Units
Total GIA 22,794 sqft (2,118 sqm)
Gross Reversionary Income £230,298
Secured Fenced & Gated Site
Freehold

Property Description

Buntsford Business Centre is a virtually brand new development of six self-contained Light Industrial Units constructed to a high standard throughout.

The Properties are constructed in two opposing terraces within a fenced and gated development. Each unit benefits from a lofty eaves height of approximately 23'4" (7.13m) with male and female WC’s, shower, kitchenette and LED lighting.

The Units have the following Gross Internal Areas:
Unit 1 - 6,295 sqft
Unit 2 - 4,160 sqft
Unit 3 - 2,120 sqft
Unit 4 - 4,202 sqft
Unit 5 - 2,120 sqft
Unit 6 - 2,110 sqft plus mezz 1,787 sqft. Total 3,897 sqft

The total Gross Internal Area (GIA) is 22,794 sqft (2,118 sqm)

Repairing Obligations

All leases are on FRI terms.

Tenure

Freehold - subject to the below tenancies.

Proposal

We are instructed to seek offers of £3,600,000 (plus VAT) subject to contract, which equates to a Gross Yield of circa 6.4% excluding costs. This equates to an overall capital value of £158 per square foot.

Rateable Value

Unit 1 - £39,250
Unit 2 - £28,000
Unit 3 - £120,000 (VOA error - this is being appealed)
Unit 4 - £28,500
Unit 5 - £15,250
Unit 6 - £30,250

Services

All mains services, save for gas, are connected.

Legal Fees

Each party to bear their own legal fees.

Anti Money Laudering

ID documents will be required to comply with Anti Money Laundering Legislation.

Tenancy Schedule

Unit 1 - Let to VIN-X Ltd for 5 years from 14 May 2024 at £66,118.50pa.
Unit 2 - Let to Architectural Wallz (Ltd) Ltd for 5 years from 28 March 2024 at £43,669.50pa. Tenant Break Option 28/3/2028.
Unit 3 - Let to Ortlinghaus UK Ltd from 22nd July 2024 for 5 years at £22,722pa. Tenant Break Option 22/7/2027.
Unit 4 - Let to Euro-Cut Abrasives (G.B) Ltd from 1st November 2024 for 5 years at £44,058pa. Tenant Break Option 1/11/2027.
Unit 5 - Under Offer on a 5 year term at £23,5000pa with a Tenant Break Option at the 3rd anniversary.
Unit 6 - Let to Elite Oils Ltd for 5 years from 1st January 2025 at £30,200pa. Tenant Break Option 1/1/2028.

EPC

Unit 1 - Band C (61)
Unit 2 - Band C (64)
Unit 3 - Band C (75)
Unit 4 - Band C (64)
Unit 5 - Band C (73)
Unit 6 - Band C (73)

Location

Buntsford Business Centre is a brand new development located on Buntsford Gate to the south east of Bromsgrove Town Centre with convenient access to the M5 motorway at Wychbold (Junction 5) approximately 4 miles to the south or at Lydiate Ash (Junction 4) approximately 5 miles to the north. Access can also be gained to Junction 1 of the M42 via the A38, approximately 3 miles to the north.