Savills | Units 1A/1B, 2A/2B And 3, Carterton Industrial Estate, Black Bourton Road, OX18 3EZ | Property for sale
46,642 sq ft(4,333.18 sq m)
Offers over £2,500,000

Units 1A/1B, 2A/2B And 3, Carterton Industrial EstateBlack Bourton Road, OX18 3EZ

  • Under offer
  • Leasehold

Key features

  • Fully let to growing online retailer
  • Established Industrial Estate
  • 2.13 acre self-contained site
  • Potential for future redevelopment STP
  • Low site density on Unit 3
  • Net rental income £230,017pa
  • Potential future redevelopment STP
  • Additional income from telecoms mast
  • Long leasehold interest

Commercial investment available for sale.

About this property

  • Description
    The property comprises three detached industrial units which date from the 1960s. Units 1 & 2 comprise two-bay warehouses of framed construction with masonry, with two storey offices and showrooms to the front. Unit 1 has eaves heights of 3.46m and Unit 2 has eaves heights of 5m. Unit 3 comprises a steel portal framed metal clad warehouse with eaves heights of 3.3-3.95m and a separate single storey office at the front. Each unit has its own seperate 3 phase power supply. Unit 3 in particular has a low site density which may be suitable for redevelopment (STP).
    The Tenant has regularly maintained and invested in the buildings with modern crittall style windows and doors installed to the front elevations, new LED lighting to the warehouses and modern office and impressive showroom space.

    Viewings
    By prior appointment with the sole selling agents who will be holding viewing days.

    Terms
    We are instructed to seek offers for the long-leasehold interests subject to the occupational lease at a guide
    price of £2,500,000 (Two Million and Five Hundred Thousand Pounds). We are informed that the property is
    elected for VAT.

    Investment
    • The property is offered by way of a sale and lease back
    with The Garden Trading Company Ltd entering into a
    new five new lease with an option to extend by three
    years.
    • Garden Trading Company are an online retailer with a Dun & Bradstreet credit rating of 2A2.
    • In 2020 the tenant company made a pre-tax profit of £2.0m and are a wholly owned subsidiary of Joules Plc.
    • The gross rent received is £280,000 pa. The tenant has invested significant capital expenditure into the buildings including customer showroom and upgraded offices.
    • The occupational lease is Fully Repairing and Insuring with reference to a Schedule of Condition.
    • Additional income from telecoms mast of £5,292 pa.
    • Rare industrial investment opportunity in Oxfordshire.
    • The guide price reflects a net initial yield of approximately 8.65% allowing for purchasers costs and a low capital rate of £59.42 per sq ft.

    Tenure
    Held on three co-terminus Long Leasehold titles with a lease expiry in September 2163 (143 years unexpired).
    The current ground rent payable is £55,275 per annum which is reviewed on a five yearly basis.

Local information

  • The units are situated within Carterton Industrial Estate on Black Bourton Road in the South of Carterton in West Oxfordshire. The Estate is bordered by a residential estate to the North and RAF Brize Norton to the South. The Industrial estate is approximately 3.3. miles from the A40 which runs from Cheltenham to Oxford.

Energy performance

EPC Rating is C (64)

Available space

Floor / UnitTypeSizeStatus
Unit (1A/B)Industrial16685 sq ftAvailable
Unit (2A/B)Industrial17784 sq ftAvailable
Unit (3)Industrial12173 sq ftAvailable