Junction One Business Park

Tenure:
Leasehold

Location:
Address:
Junction One Business Park, Valley Road, Birkenhead, CH41 7ED

Area:
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%.