About this property

Detailed Description

The property extends to a total of seven industrial and warehouse units, constructed in the 1990's of steel portal frame construction, a number of which were refurbished in 2024.

The property comprises one block of three units (No.'s 10-12) with forecourt, side and rear yard areas and a further block of four units (No.'s 18-21) with forecourt loading, parking and circulation.

Each unit benefits from vehicular loading access doors together with office and amenity facilities. Minimum eaves of approx. 5.50m.

The property has a site area of approximately 1.5 acres (0.61 hectares).

Location

The Hardwick Industrial Estate is situated approximately two miles south east of Kings Lynn town centre, being accessed off the A149 Hardwick Road, close to the Hardwick roundabout, the main intersection of the A47/A17 Norwich to Peterborough/Newark road and A10 Ely/Cambridge road.

Major occupiers on the wider Hardwick Estate include Foster Refrigeration, Mars UK, Screwfix, B&Q, Edmundson Electrical. The subject property fronts Denney Road, off Rollesby Road towards the northern end of the estate.

Services

We have not carried out tests on any of the services or appliances and interested parties should arrange their own test to ensure these are in working order.

Viewing

Strictly by appointment with the sole selling agent:-

VAT

The seller is VAT registered and it is proposed the transaction be treated as a TOGC (Transfer of a Going Concern). Further details on application.

Legal Costs

Each party will be responsible for their own legal costs incurred in documenting the transaction.

Terms

Investment Summary
A freehold part-let industrial/warehouse investment
Well located on Kings Lynn's premier and most established industrial estate
Seven units of which four are let and producing £112,053 pax with three offered with vacant possession
29,508 sq ft GIA with ERV when fully let of circa £210,940 pax
Asset management opportunities to enhance income
Available to purchase freehold at a price of £2,275,000
A purchase at this level reflects a Net Initial Yield of 8.00% after purchaser's costs on the let units, and circa £72.50 per sq ft on the vacant space