Summary - 1, CHESHAM FOLD ROAD BL9 6LE
1 bed 1 bath Commercial Property
Income-producing warehouse near major road links, suitable for long-term investors.
- 91,241 sq ft industrial premises on 4.67-acre site
- Single let to AFE Group Ltd (Millers Vanguard) since 2016
- Lease: 12 years from 2 Aug 2024; reviews in years 5 and 10
- Annual rent £345,000 pa (exclusive) — c. £3.78 psf
- Net initial yield 7.28%; offers in excess of £4,450,000
- Mixed-age construction: stone north-light and modern portal frame
- Extensive yard, multiple loading bays, off-street parking
- Single-tenant concentration and very deprived local area
A substantial single-let industrial investment occupying a former woollen mill extended and refurbished to provide 91,241 sq ft on a 4.67-acre site. The property is let to AFE Group Limited t/a Millers Vanguard on a 12-year lease from 2 August 2024, producing £345,000 pa (exclusive) with rent reviews in years 5 and 10. The investment offers a net initial yield of 7.28% and a low capital value of £48.77 psf, reflecting scale and income security from an established occupier.
Constructed in mixed stone and steel portal-frame sections, the building combines historic north-light workshop character with modern steel-clad warehouse space, high ceilings, concrete floors and multiple loading bays. Externally there is extensive yardage, off-street parking, landscaped areas and secure perimeter fencing. The site benefits from strong vehicular links, being around 1 mile east of Bury town centre and close to J2 of the M66, supporting logistics and light industrial uses.
Buyers should note the single-tenant nature of the asset: occupational risk is concentrated in AFE Group Limited. The wider location scores high on deprivation metrics, which may affect long-term occupational demand in certain uses despite very low local crime and good transport connectivity. The building has been refurbished in parts but, as a large, mixed-age complex, may require ongoing maintenance or targeted investment over time.
This opportunity suits investors seeking a large-scale, income-producing industrial freehold with medium-term security and value-add potential from active asset management, including lease structure optimisation or future reconfiguration to multiple units if demand arises.
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