Grove Mill, Todmorden Road, Bacup
Description
- Price Offers in excess of £6,530,000
The property forms the UK Headquarters for Othoplastics, comprising an original stone mill building which had later additions in the 1980's providing further warehouse and production space.
Fully refurbished in 2014 at a cost of £3,500,000
Lease expiry December 2039 offering long term income (with 14 years 8 months unexpired)
Current rent £522,543 pa reflecting overall rate of only £6.34 sq ft
We are instructed to seek offers in excess of £6,530,000 (Six Million, Five Hundred and Thirty Thousand Pounds) which reflects an attractive net
initial yield of 7.50%, net of purchaser’s costs of 6.64%.
Fully refurbished in 2014 at a cost of £3,500,000
Lease expiry December 2039 offering long term income (with 14 years 8 months unexpired)
Current rent £522,543 pa reflecting overall rate of only £6.34 sq ft
We are instructed to seek offers in excess of £6,530,000 (Six Million, Five Hundred and Thirty Thousand Pounds) which reflects an attractive net
initial yield of 7.50%, net of purchaser’s costs of 6.64%.
BUILDING HIGHLIGHTS
Head Quarter building occupied by Orthoplastics for over 30 years
Property provides 82,409 sq ft on a site of 2.6 acres
Current rent £522,543 pa reflecting overall rate of only £6.34 sq ft
We believe the market rent is in excess of £650,000 pa
Specification
Level 1 and 2 provides ancillary accommodation including the pedestrian entrance to the main building.
Level 3 provides a mixture of laboratories and ‘clean’ production areas
Levels 4 & 5 provide a mixture of fully fitted laboratories
Level 6 provides the main reception area and offices in the building
Adjoining the original building is a warehouse which was constructed during the 1980’s, which is being used for a mixture of production and product warehousing space.
We are instructed to seek offers in excess of £6,530,000 (Six Million, Five Hundred and Thirty Thousand Pounds) which reflects an attractive net
initial yield of 7.50%, net of purchaser’s costs of 6.64%.
Level 3 provides a mixture of laboratories and ‘clean’ production areas
Levels 4 & 5 provide a mixture of fully fitted laboratories
Level 6 provides the main reception area and offices in the building
Adjoining the original building is a warehouse which was constructed during the 1980’s, which is being used for a mixture of production and product warehousing space.
We are instructed to seek offers in excess of £6,530,000 (Six Million, Five Hundred and Thirty Thousand Pounds) which reflects an attractive net
initial yield of 7.50%, net of purchaser’s costs of 6.64%.