Tokenspire Business Park, Hull Road, Beverley – HU17
For sale £10,750,000 313,246 sq ft
Prominent multi-let industrial investment opportunity comprising Beverley's dominant industrial estate - Located on the A1174 (Hull Road), less than 1 mile from Beverley town centre - The property extends to 313,246 sq. ft. on a site of 24.43 acres, reflecting a low site coverage of 29% - Freehold - The estate provides two substantial development sites as well as significant frontage land offering future redevelopment opportunities - Currently let to 33 tenants with a passing rent of £825,800 per annum with an WAULT of 1.24 years to break and 2.13 years to expiry - Strong history of tenant retention - Opportunity to benefit from significant reversion of £1,198,356 pa through letting of vacant space/rent reviews/leases renewals - Offers sought in excess of £10,750,000 - A purchase at this level reflects a net initial yield of 7.19%, reversionary yield of 10.43%, equivalent yield of 10.04%, and a capital value of £34 per sq. ft. (assuming £325,000 per acre for the development/overage/ compound land).
This industrial unit for sale is located in HU17.