• To be sold by clicktopurchase® online AI auction - 6th December, 11:00am

• Established commercial location

• Multi-let and fully income producing

• Low passing rents (£4.73 per sq ft overall)

• Active management opportunities

• Freehold

• Offers in excess of £400,000, subject to contract

• 7.0% Net Initial Yield

• Low capital value of £64 per sq ft

The property is situated in an established commercial location on the Porte Marsh Industrial Estate, the primary commercial area of Calne. The A3102 is less than 0.8 km (0.5 miles) to the north and the town centre is approximately 1.6 km (1 mile) to the south. Access to the property is via Harris Road.

The Porte Marsh Industrial Estate attracts a wide range of businesses and occupiers including Fabrinet UK, BIL Group, Par Foods and Buildbase.

The property benefits from being less than 0.8 km (0.5 miles) from a new Tesco Superstore which opened in November 2017, creating 200 jobs in the town. In addition, David Wilson Homes is in the process of developing Weston Meadow, a new 80-home residential scheme on Oxford Road, only few hundred metres from the subject property.

The property comprises an industrial building which has been sub-divided into a terrace of 5 warehouse units.

The building is of steel portal frame construction with concrete block work to its lower elevations and steel profiled cladding above, under a pitched steel sheet insulated roof.

Internally, the units are designed to provide warehouse space on ground floor together with ancillary office accommodation at first floor level. The minimum eaves height is approximately 4 metres with a maximum height to pitch of approximately 5.5 metres.

Each unit benefits from a roller shutter door with a service yard and car parking provided.

The property includes Units 6-8 Harris Road, a separate industrial terrace which has been sold off on a long lease.

The 2018/19 Uniform Business Rate is 48.0 pence per pound for rateable values below £51,000.

We estimate the site area to be approximately 0.267 hectares (0.66 acres).

A Sitecheck Search was carried out by Landmark in November 2018 which concluded that “no significant contaminant linkage has been identified and any liabilities from contaminated land are unlikely. No further action is required”. A copy of this report is available to download.

The property is currently fully let to 4 tenants under 5 occupational lettings in accordance with the attached tenancy schedule.

A purchaser will benefit from a total income of £29,600 per annum (£50.88 per sq m / £4.73 per sq ft overall).

Units 6-8 Harris Road has been let on a 125 year lease from 8th October 2015 at a peppercorn rent.

The supply of industrial buildings similar in size to the subject units in Calne is very limited with a healthy level of demand. The subject property is let at a significant discount to rents in surrounding areas such as Chippenham and Melksham where we understand rents for similar size units are currently in the region of £8.50 per sq ft. Therefore, we believe that the subject property offers good prospects for rental growth.

A purchase at the asking price reflects a low capital value of £64 per sq ft.  In May 2017, an industrial/warehouse unit in close proximity to the subject property on Clarke Avenue, Porte Marsh Industrial Estate totalling 454 sq m (4,886 sq ft) was sold at £77 per sq ft, demonstrating that the investment value is largely underpinned by the vacant possession value.

Units 1,2 & 3 – DMN UK Limited

For the year ending 31st December 2017, DMN UK Limited (Co. No. 03617220) has reported Shareholders’ Funds of £359,104.

The company is a wholly owned subsidiary of DMN Machinefabriek Noordwykerhout BV, a company registered in Holland and established in 1950. In 1998 DMN bought the business from Westinghouse Systems and became the owner of the products, changing the brand name to DMN-WESTINGHOUSE.

DMN-WESTINGHOUSE has been designing and manufacturing rotary valves, diverter valves and other related components for the bulk solids handling industry for more than 40 years. DMN-WESTINGHOUSE offers tailor-made solutions to the global food, dairy, plastics, (petro) chemical, pharmaceutical, mineral, power and biomass industries.

DMN are an international company with five sales offices and two production facilities, employing 140 people worldwide. For further information see www.dmnwestinghouse.com.

Unit 4 – N Smith & J Smith, t/a Team Schemes

Team Schemes is a family business formed in 1974 which prints and embroiders all types of clothing. For further information see www.teamschemes.com.

Unit 5 – South West Auto Trimming Limited

For the year ending 31st August 2018, South West Auto Trimming Limited (Co. No. 09838861) has reported Total Net Assets of £67,527.  A rent deposit of £1,637.85 (including interest) is held persuant to the terms of the letting.

A family run business with over 20 years’ experience in vehicle trimming and upholstery, the company specialises in classic and custom vintage & veteran cars, campers, vans, lorries, boats, bikes and planes. For further information see www.swautotrimming.co.uk.

The property has been registered for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).

1. An opportunity to acquire a freehold industrial investment;

2. The property is multi-let and income producing;

3. The property is situated in an established commercial location;

4. The property offers a purchaser a number of opportunities to actively manage and enhance the passing rents;

5. A purchase at the asking price will provide an investor with an attractive net initial yield with potential to significantly improve;

6. A purchase at the asking price reflects a low capital value;

7. An attractive lot size to an investor.