Summary - HALL BROS BRIDLINGTON LIMITED, CARNABY INDUSTRIAL ESTATE, LANCASTER ROAD YO15 3QY
1 bed 1 bath Storage
Scale industrial holding with reversionary income and yard intensification potential.
- Freehold 12-acre site with 7.37 acres of open storage
A substantial multi-let industrial estate on Carnaby Industrial Estate, three miles south-east of Bridlington, offered as a freehold 12-acre site. The estate comprises eight warehouse units totalling about 103,551 sq ft together with 7.37 acres of external open storage and extensive hardstanding, suitable for storage, distribution or light industrial occupiers. Current rent passing is £457,292 pa, reflecting a low average rent of c. £3.60 psf and open storage at approx. £8,200 per acre.
The asset is reversionary with clear income-enhancement opportunities: lease regears, rent reviews and intensification of yard usage could materially increase income, subject to planning. Buildings are practical steel-framed/portal warehouses with high eaves, ancillary offices and on-site circulation; the estate benefits from strong tenant retention and low immediate local competition within the industrial market.
Buyers should note the wider socio-economic context: the immediate area is classified as deprived with an ageing rural tenant profile and average local crime levels. While mobile signal and broadband are strong, asset management will be required to lift rents from current low levels and to exploit development or densification potential. This is positioned for investors seeking scale, long-term uplift and operational control of a large industrial holding.
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