Junction One Business Park


Junction One Business Park, Valley Road, Birkenhead, CH41 7ED

168,133 Sq ft

Property Details

We are delighted to attach details of the above investment, which we trust will be of interest. Brief details include:

  • A multi-let industrial estate in a popular and established North West location.
  • Excellently situated off Junction 1 of the M53 providing strong connections to Liverpool City Centre, the M56 motorway and Manchester.
  • Within 500 m of Wirral Waters ñ a £4.5bn regeneration project and adjacent to the headquarters of Park Group plc.
  • Self-contained estate totalling 26 units extending to approximately 168,132 sq ft, with unit sizes ranging from 1,659 sq ft to 19,557 sq ft appealing to a broad range of occupiers.
  • Large 12.90 acre site with a low site cover of c.30%.
  • Modern well-presented estate with all vacant units having recently undergone an extensive £1.24m back to frame refurbishment, including being re-roofed.
  • Multi-let to five tenants on 13 leases, with a total rental income of £805,550 per annum, reflecting a low average rent of £4.79 per sq ft.
  • The principal tenant (PharmaPac) has been on the estate for over 20 years and is the largest employer on the Wirral. PharmaPac has recently completed a lease regear and expansion into additional units for a new 10 year term with a break at year five.
  • Attractive WAULT of 43 years to expiry and 3.13 years to break.
  • Freehold.
  • Excellent value enhancement opportunities including letting the currently vacant accommodation, regearing existing leases, rental growth potential and increasing the massing onsite.
  • We are instructed to seek offers for the freehold interest in excess of £10,415,000 subject to contract and exclusive of VAT. A purchase at this level would reflect an attractive net initial yield of 7.25% and a low capital value of £62 per sq ft, after deducting purchasers costs of 6.70%.