Summary - 77, ST MODWEN ROAD PL6 8LH
1 bed 1 bath Trade Counter
Secure long-term income from a national plumbing covenant on a strategic Parkway estate.
- Detached industrial unit, 9,658 sq ft (897 sqm)
- Let to City Plumbing Supplies; new 10-year lease starts 24 June 2026
- Reversionary rent £76,500pa; yield 7.23% after purchaser costs
- Low capital value c. £103 per sq ft overall
- Good roadside location adjacent Marsh Mills, direct A38 access
- 5.2m eaves, roller shutter 3.6m x 4.5m, mezzanine storage
- LED lighting, daylight panels and space heaters installed
- Only 1 year left on current lease — lender financing may be refused
A substantial detached industrial unit of 9,658 sq ft on Parkway Industrial Estate, adjacent to Marsh Mills Retail Park and with direct access to the A38. The property includes a trade counter/showroom, mezzanine storage, generous tarmac yard parking, a 3.6m x 4.5m roller shutter, 5.2m eaves and practical environmental features including LED lighting and daylight panels.
The asset is let to the strong covenant of City Plumbing Supplies Holdings Ltd. The current lease expires June 2026; a new 10-year lease has been executed to commence 24 June 2026 at £76,500pa (reversionary yield 7.23% after estimated purchaser costs). This provides a clear income profile for a buyer seeking secure rental income from a national occupier.
Important purchaser considerations are transparent: there is only one year remaining on the current lease, which presents lender risk and may restrict mortgage availability until the new lease formally commences. Purchase pricing reflects the reversionary income and low capital value of approximately £103 per sq ft. Buyers should factor in legal and acquisition costs (assumed purchaser costs 5.45%).
Well-suited to an investor seeking long-term, hands-off income from an established industrial location. The property is practical and low-maintenance in construction and layout, but purchasers wanting immediate mortgage finance should obtain lender confirmation given the short lease term remaining.
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