About the Property
A highly reversionary industrial investment offering secure income, an immediate rental uplift and strong long-term asset management potential. Comprising 29,595 sq ft across two modern industrial units, the property produces a passing rent of £212,248 per annum, with a WAULT of 5.95 years.
The investment provides an exceptional covenant profile, with 100% of the income secured against two A-rated, Very Low Risk occupiers - Mitie Landscapes and Alton Cars.
- £212,248 pa passing rent (£7.17 psf).
- Immediate 15% rental reversion, with ERV of £244,159 pa.
- March 2027 Mitie lease event, providing a clear near-term opportunity to increase the rent.
- 100% of the income secured against Very Low Risk covenants.
- Combined tenant turnover of over £141m and net assets of approximately £50.6m.
- Attractive 5.95-year WAULT.
- Established Nottingham industrial location with excellent M1 connectivity.
- Offers in excess of £2.95m, reflecting a 6.76% NIY and 7.77% reversionary yield.
- Attractive capital value of just £99.70 psf.
- Further potential to enhance value through a leasehold regear.
The investment offers a particularly attractive combination of strong covenant security and genuine rental growth, with the current rent of £7.17 psf sitting below the estimated market rent of £8.25 psf.
With the March 2027 lease event providing an identifiable 15% rental uplift, alongside a long-term opportunity to enhance the leasehold interest, we believe 1 & 2 Glaisdale Business Centre represents an excellent opportunity to acquire a well-located, fully let industrial investment with both secure income and immediate upside.
The investment provides an exceptional covenant profile, with 100% of the income secured against two A-rated, Very Low Risk occupiers - Mitie Landscapes and Alton Cars.
- £212,248 pa passing rent (£7.17 psf).
- Immediate 15% rental reversion, with ERV of £244,159 pa.
- March 2027 Mitie lease event, providing a clear near-term opportunity to increase the rent.
- 100% of the income secured against Very Low Risk covenants.
- Combined tenant turnover of over £141m and net assets of approximately £50.6m.
- Attractive 5.95-year WAULT.
- Established Nottingham industrial location with excellent M1 connectivity.
- Offers in excess of £2.95m, reflecting a 6.76% NIY and 7.77% reversionary yield.
- Attractive capital value of just £99.70 psf.
- Further potential to enhance value through a leasehold regear.
The investment offers a particularly attractive combination of strong covenant security and genuine rental growth, with the current rent of £7.17 psf sitting below the estimated market rent of £8.25 psf.
With the March 2027 lease event providing an identifiable 15% rental uplift, alongside a long-term opportunity to enhance the leasehold interest, we believe 1 & 2 Glaisdale Business Centre represents an excellent opportunity to acquire a well-located, fully let industrial investment with both secure income and immediate upside.