Partner Article

CPP bring high quality warehouse in the East Midlands to the market

Offering 11,550 sq. ft industrial space in Hucknall

Leading property consultants Commercial Property Partners (CPP) have been instructed to market a forward commitment opportunity for a £1.723m modern warehouse facility totalling 11,550 sq. ft at Daniels Way, located in the heart of Hucknall’s industrial area.

Situated adjacent to Harrier Park and in close proximity to junctions 26 and 27 of the M1, the unit comprises a detached warehouse with steel portal frame spanning 5,600 sq ft, which is currently undergoing refurbishment to include an extension of 4,450 sq ft.

The unit will be let to GEOAmey PECS Ltd, providers of justice services that offers prison escort and custody services for the Ministry of Justice.

A new 9.5 year lease will commence upon the completion of the works with a passing rent of £105,000 per annum, subject to 5 yearly RPI linked rent reviews, with a collar of 1% per annum, and a cap of 4% per annum (annually compounded).

Nearby occupiers include The Mail Shop, Toll Global Forwarding, Briton Fabricators, RM Education Resources and JTF Mega Discount Warehouse.

Richard Wright, Director at CPP commented: “ We are delighted to dispose of this opportunity which provides such appealing characteristics, most notably, long, secure income, underpinned by the tenant having a government backed contract running conterminously with the term of the lease.

“The newly developed and refurbished building will provide an excellent specification on what will remain a very low site density, providing opportunity for future expansion.”

This was posted in Bdaily's Members' News section by Gina Francey .