Ridgeway Trading Estate, Astwood Bank B96 6DS

Property Details: • Type: Light Industrial • Tenure: FREEHOLD • Floor Area: 5375 sqft

Key Features: • Fully Let - Freehold Investment • NIY 6.45 % - Reversionary Yield of 7.00% • 3 Tenants Recently Renewed for 5 Year Terms • ERV (Estimated Rental Value) over £81,921 pa • High Tenant Demand for Small Units Locally • Units Qualify for Zero or Taper Rates Relief

Location: • Nearest Station: Redditch Station • Distance to Station: 3.164090959855235 miles

Agent Information: • Address: 1st Floor Offices 3 Trinity Street Stratford upon Avon WARKS CV37 6BL

Full Description: FREEHOLD INVESTMENT- Ridgeway Trading Estate is a fully let income producing small unit industrial estate located at Astwood Bank on the outskirts of Redditch, Worcestershire. Asking Price £1,100,000.<br /><br />DESCRIPTION<br />The property is on a self-contained Freehold site, comprising of five units totalling 5,375 square feet. The units are modern, well insulated, steel portal framed industrial buildings, fronting a private access yard & car park. The premises have recently been refurbished to a high standard throughout and benefit from roller shutter access, lighting and WC accommodation.<br /><br />INVESTMENT PROPOSAL<br />We are instructed to seek offers of £1,100,000 based on a net initial yield of 6.46% assuming purchasing costs of 5.85% with reversionary yield of 7.00%.<br /><br />LOCAL DEMAND<br />Small units are in high demand locally and these type of units fill a much needed gap in the market between self-store units and traditional industrial units, three of the tenants (Units A, C & E) have recently renewed their leases for further 5 year terms and the remaining two units (Unit B & D) have leases expiring in May 2027 & March 2028. The units are attractive for small businesses as they qualify for either full business rates relief or small business rates taper relief under the new 2026 VOA re-valuation.<br /><br />CAR PARKING<br />Ample parking is available within the fenced and gated secure site.<br /><br />EPC’S<br />EPC’s range from A-C all meeting the required revised standard coming into effect in 2027.<br /><br />REPAIRING OBLIGATION<br />All leases are effective full repairing, with any roof repairs dealt with by way of a service charge. There are no schedules of condition attached to the leases.<br /><br />TENURE<br />Freehold.<br /><br />LEGAL COSTS<br />Each party is to bear their own legal costs.<br /><br />VAT<br />Is applicable on the sale price however it is likely that the sale will be treated as a TOGC (Transfer of a going concern) meaning VAT is not payable by the purchaser subject to them meeting the HMRC guidelines. Any purchasers should take advice from their accountants and solicitors and satisfy <br />themselves of their VAT situation prior to placing an offer to purchase the property.<br /><br />VIEWINGS: <br />Units are tenanted so internal viewings are by appointment only with the agents office.<br /><br />- Fully Let - Freehold Investment<br />- NIY 6.45 % - Reversionary Yield of 7.00%<br />- 3 Tenants Recently Renewed for 5 Year Terms<br />- ERV (Estimated Rental Value) over £81,921 pa<br />- High Tenant Demand for Small Units Locally<br />- Units Qualify for Zero or Taper Rates Relief<br />- EPC's at A-C Ratings<br />- 8.2 Miles to M42 Junction 2<br />- Tenants Have Repairing Obligations<br />- NO VAT Payable on Purchase - TOGC If Buyers Qualify<br /><br />