Crewe CW2 8UY, United Kingdom
£2,000,000
Price paid to the seller for the asset
£109,500
Stamp Duty Land Tax paid to the government for the purchase
£80,000
Commission paid to estate agent to execute the transactions
£28,000
Expenses incurred to complete the transaction
£2,500
Expenses incurred w.r.t Special Purpose Vehicles
£30,000
Funds reserved for contingencies
There is an opportunity to purchase a high-spec warehouse totaling 19,758 sf in Marshfield Bank Industrial Estate, Crewe, leased to a German manufacturer Pfeifer Drako Ltd on a new 10-year lease at an all-in price of £2,250,000 (£101 per sf) which sets-up to a 7.03% target unlevered gross yield.
The asset is part of the Marshfield Bank industrial estate located 2 miles from Crewe Town Centre, in Cheshire East, just off the M6 motorway connecting Manchester and Liverpool in the North with Birmingham and London in the South.
Pfeifer Drako Ltd is a subsidiary of the 447-year-old German Pfeifer Group, which is a leading manufacturer and distributor of high-performance steel wire ropes and lifting equipment, serving global industries like elevators, cranes, mining, marine and wind energy.
Total Area
19,758 sq.ft
Rent per sq.ft
£8.00
Rent Review
Every 5 years
Tenant Break
5 years
Lease Period
10 years
Rent Review Type*
Upwards Only
Dun & Bradstreet rating
3A2
The asset spans across 19,758 sq ft over a site area of 0.97 acres. The unit has high eaves compared to neighbouring units ranging from 8.5 metres (hip) to 10.6 metres (haunch) with a minor office component in front.
