Summary - Expressway Business Park, St Asaph Road, Bodelwyddan, LL18 LL18 5SQ
1 bed 1 bath Warehouse
39,000 sq ft unit with strong reversion potential for yield-focused buyers.
- Large industrial facility approximately 39,165 sq ft (3,638.6 sq m)
- Site area c.2.81 acres (1.14 hectares)
- Current passing rent £150,000 pa (£3.83 per sq ft)
- Lease to Carlsberg Marston's expires 18 Sep 2029 (4 years left)
- Sublet to Plastecowood until 17 Sep 2029
- Rent review outstanding; estimated ERV c.£5.00 per sq ft
- Purchase guide £2,200,000; reversionary yield 8.37% after costs
- Area is very deprived with higher local crime rates
A substantial reversionary industrial investment on 2.81 acres within Expressway Business Park, totalling approximately 39,165 sq ft (3,638.6 sq m). The property is currently leased to Carlsberg Marston's Brewing Company Ltd (sublet to Plastecowood) with the lease expiring 18 September 2029 and a current passing rent of £150,000 pa. The low passing rent equates to only £3.83 per sq ft, with an estimated rental value of around £5.00 per sq ft and an outstanding rent review.
This is a clear reversion play: offers are sought in the region of £2,200,000, reflecting a net initial yield of 6.41% after costs and a reversionary yield of 8.37% after costs. The building’s size, high ceilings and generous site provide flexibility for alternative industrial uses or refurbishment at reversion. Proximity to the North Wales Expressway gives good road access for logistics and trade occupiers.
Material risks are significant and must be weighed. Only four years remain on the current lease, which materially affects bank lending and saleability to traditional buyers; mortgage lenders may refuse lending. The site sits in a very deprived area with higher local crime rates, which could affect occupational demand and operator perception. Any purchaser should model vacancy, re-letting costs and potential refurbishment before acquisition.
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