Property overview

Paintwell – Salwarpe Business Park, Salwarpe Road, Droitwich Spa, WR9 9BH

under offer

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£617,000
Jul 2022

Paintwell Limited, Salwarpe Business Park, Salwarpe Road, Droitwich Spa, WR9 9BH

 

  • New build trade counter investment opportunity
  • Strategically located in the affluent town of Droitwich Spa
  • Droitwich Spa is well connected being just 2 miles from Junction 5 of the M5, 7 miles north of Worcester and 20 miles south of Birmingham
  • The property forms part of the newly developed Salwarpe Business Park, in the town’s primary trade and retail location
  • The property comprises a terraced industrial unit, built to a high specification including PV panelling on the roof
  • Total Gross Internal Area of 3,414 sq. ft. (317.15 sq. m.)
  • Let to Paintwell Limited on a new 10 year lease with a tenant break option in year 5
  • Paintwell are a national independent decorator’s merchants, founded in 1948. Average Pre-Tax Profit of £1.18m over the last three years
  • Rent of £35,679 per annum (£10.45 per sq. ft.)
  • Open Market Rent Reviews
  • Long-leasehold for 250 years at a peppercorn

 

We are instructed to seek offers in excess of £617,000 subject to contract and exclusive of VAT.

A purchase at this level reflects an attractive net initial yield of 5.50% based on full purchaser’s costs of 5.16%.