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%.