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For Sale
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Units 1-6 Wards Court Investment, Faverdale Industrial Estate, Darlington DL3 0PP

26,500 Sq Ft
£2,700,000
  • Ref: CPNE_102567
  • Type: Industrial
  • Availability: For Sale
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Property Features

  • Multi-Let Industrial Estate Investment
  • Brand new, completed Autumn 2022
  • 6 Units let to 6 individual tenants
  • Passing net rent of £169,600 per annum
  • Excellent road communications

Property Summary

The site is located on the Faverdale Industrial Estate which is located to the northwest outskirts of Darlington town centre. The estate benefits from excellent
communication links being strategically situated just off Junction 58 of the A1(M) theA66(T) to the east.

Situated at...

Full Details

The site is located on the Faverdale Industrial Estate which is located to the northwest outskirts of Darlington town centre. The estate benefits from excellent
communication links being strategically situated just off Junction 58 of the A1(M) theA66(T) to the east.

Situated at the heart of Faverdale Industrial Estate the development is adjacent to a new retail development (under construction). Lidl opened for trade in December 2022
with Home Bargains and Starbucks Drive Thru due on site in the Spring 2023.

The estate is an established industrial location and home to occupiers such as Argos & Aldi distribution hubs, Capita Business Services, Cepac and Arriva.

The site comprises 6 industrial units in 3 blocks with shared hard-standing/ parking and circulation. The estate is secured by way of a perimeter palisade fence with secure gated access. Each unit has pedestrian access doors and roller shutter door(s). The units were completed in summer 2022 and comprise of the following:

-Insulted dual pitched profile
-Roller Shutter door Loading
-Double glazed pedestrian doors
-Steel frame with profiled steel cladding
-6 Metre Eaves
-Kitchen and WC
-LED Lighting
-Small Office

The estate totals 2,462 m2 (26,500 sq ft) GIA of which 371.6 m2 (4,000 sq ft) is landlords constructed Mezzanine on units 1 & 5. The unit sizes are ideally suited to meet the local and regional needs of the market. The scheme was designed to allow units to be configured to split down into 1,000 sq ft self-contained units, future proofing the development and adding re letting flexibility including separate services, roller shutters front and back.

PROPOSAL
We are instructed to seek offers at £2,700,00 (Two Million Seven Hundred Thousand Pounds exclusive), subject to contact and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 6.28% NI (allowing for purchaser’s costs at 6.50%).

Accommodation:
Unit 1: 8,000.00 sqft
Unit 2: 2,000.00 sqft
Unit 3: 2,000.00 sqft
Unit 4: 2,000.00 sqft
Unit 5: 8,000.00 sqft
Unit 6: 4,500.00 sqft
Total: 26,500.00 sqft