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Multi-Let Industrial / Trade Counter Investment
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exchanged
Private Treaty
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£
955,000
Offers in excess of
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Location
Westbury is a West Wiltshire market town located approximately 43 km (27 miles) south-east of Bristol, 53 km (33 miles) east of Bristol, 24 km (16 miles) south-east of Bath, 43 km (27 miles) north-east of Salisbury and 8 km (5 miles) south of Trowbridge.
The town benefits from good road communications being served by the A350 which in turn links with the M4 Motorway (Junction 17) approximately 32 km (20 miles) to the north and the A36 to the south. The A303 and
The town is connected to the national railway network with services to London Paddington (1 hour 20 minutes), Bristol (40 minutes), Wales and the whole of the South West of England. Bristol Airport is approximately 61 km (38 miles) to the north-west.
Summary
- Established commercial location
- Multi-let light industrial / trade counter scheme
- Fully income producing
- Strong occupational demand with several recent lettings/renewals
- Active management opportunities
- Offers in excess of £955,000, subject to contract
- 8.0% Net Initial Yield
- Low capital value of £89 per sq ft
Situation
The property is situated on the well-established West Wiltshire Trading Estate within the primary commercial area of Westbury comprising approximately 165 acres with 1.5 million square feet of employment space. The estate attracts a diverse mix of national and local occupiers including Screwfix, Arla, Welton Bibby & Baron, WH Kemp, TES Transmissions, Audience Systems and Trelleborg.
The estate offers good connectivity, positioned just off the A350, providing direct access to the M4 (Junction 17) approximately 19 miles to the north and the A303 some 14 miles to the south, ensuring convenient transport links to Bristol, Swindon, and the South Coast.
The Brunel Centre is accessed via Cory Way. Westbury train station is 1.5 miles from the property and the town centre is approximately 2 miles to the south.
Description
The property comprises a courtyard development of 15 light industrial/trade counter units.
The units are of steel frame construction with profile steel cladding to walls and roof and part glazed front elevations.
The minimum eaves height for each unit is approximately 4.2 metres (13.78 sq ft).
Each unit benefits from a roller shutter door with a parking / loading area.
Units 8 and 12 have been let on long leases for a term of 125 years.
Accommodation
The property has been measured by BKR Floor Plans and provides the following Gross Internal Areas;
| Units 1-3 | 166.11 sq m | 1,788 sq ft |
| Units 4-5 | 223.89 sq m | 2,410 sq ft |
| Units 6-7 | 180.88 sq m | 1,947 sq ft |
| Unit 9 | 96.89 sq m | 1,043 sq ft |
| Unit 10 | 81.66 sq m | 879 sq ft |
| Unit 11 | 81.66 sq m | 879 sq ft |
| Units 13-15 | 166.11 sq m | 1,788 sq ft |
| Total | 997.19 sq m | 10,734 sq ft |
A set of floor plans is available to download and the measured survey report will be assigned to a purchaser at a cost of £990 + VAT.
Rateable Value
| Accommodation | Description | Rateable Value |
| Units 1-3 | Workshop & Premises | £11,250 |
| Unis 4-5 | Workshop & Premises | £16,000 |
| Units 6-7 | Business Unit & Premises | £13,000 |
| Unit 9 | Business Unit & Premises | £7,100 |
| Unit 10 | Business Unit & Premises | £6,200 |
| Unit 11 | Workshop & Premises | £5,800 |
| Units 13-15 | Workshop & Premises | £12,000 |
The business rates multiplier is 49.9 pence per pound.
Site
A Sitecheck Assess by Landmark dated 19th February 2025 states that “no significant contaminated linkage has been identified and any liabilities from contaminated land are unlikely. No further action is required”. A copy is available to download in the data room.
Planning
The property has planning consent for B1 (light industrial), B2 (general industrial) and B8 (storage and distribution).
Tenure
Virtual Freehold (999 year lease from 23rd November 2001 at a peppercorn rent).
Tenancies
The property is currently fully let to 9 tenants in accordance with the tenancy schedule which is available to download.
A purchaser will benefit from a total income of £80,942 per annum (£81.17 per sq m / £7.54 per sq ft overall).
Units 8 & 12 have been let on 125 year leases at peppercorn rents.
There are no rent arrears – all tenants are up to date with their rental payments.
Market Commentary
The supply of industrial buildings similar in size to the subject units in Westbury is limited with a healthy level of demand.
The Brunel Centre is let at a discount to prime rents in the town. For example, on the Northacre Industrial Park one mile to the south we understand a unit totalling approximately 980 sq ft was let in May 2024 on a new five year lease with three year rent review and tenant break at a rent of £9,350 per annum equating to £9.50 per sq ft. Therefore, we believe that the subject property offers good prospects for rental growth.
Service Charge
The tenants are required to contribute towards an estate service charge. The Service Charge Accounts and Service Charge Budget are available to download.
Covenants
Units 1-3 – Tube & Valve Supply Limited
Tube & Valve Supply Limited is a plumbers’ merchant and bathroom supplier with services including gas boiler & central heating installation / repairs, servicing, bathroom designs and fitting. Their new bathroom showroom at the subject property opened on 3rd March. For further information see tubeandvalvesupply.com.
A rent deposit of £3,880.64 is held by the Landlord.
Unit 4-5 – Paul Magson t/a Oakhouse Foods
Oakhouse Foods started as Home Farm Foods in 1994, with a mission to create delicious, nutritious frozen meals that were quick and easy to enjoy at home. With a choice of over 350 frozen meals and desserts, the company offers a home delivery service. For further information see oakhousefoods.co.uk.
A rent deposit of £4,337.93 is held by the Landlord.
Unit 6-7 – Unique Signs Limited
Unique Signs is an established sign and graphics company based in Wiltshire since 2004 with services including vehicle graphics, facia and building signs, projecting signs, pavement signs, banners, posters and window vinyl. For further information see unique-signs.co.uk.
A rent deposit of £3,694.55 is held by the Landlord.
Unit 9 & 10 – AA Wargames Limited / Triple Helix Wargames
Triple Helix Wargames was established in 2010 and moved to the subject property in 2013, having previously occupied another nearby unit on the West Wilts Trading Estate. The owners operate two businesses from Units 9 and 10. These are AA-Wargames which is their eBay, second hand, operation in Unit 9 and Triple Helix Wargames which is their website and shop operation in Unit 10. For further information see triplehelixwargames.co.uk.
A rent deposit of £1,400.65 is held by the Landlord for Unit 9.
Unit 11 – Spencer Elton
The tenant uses the premises as a storage/warehouse unit for merchandise.
A rent deposit of £2,801.01 is held by the Landlord.
Unit 13-15– Mobility Works Limited
Mobility Works are a family business supplying mobility products to the general public, as well as to the NHS, social services, care homes, local businesses and charities. Products include manual wheelchairs, electric wheelchairs / powerchairs, scooters, stairlifts and bathrooms, chairs & beds and daily living aids. The company has one of the largest service centres in the South. For further information see mobilityworks.co.uk.
A rent deposit of £3,523.84 is held by the Landlord.
VAT
The property has been opted for the purposes of VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).
Proposal
We are instructed to seek offers in excess of £955,000 (Nine Hundred and Fifty-Five Thousand Pounds), subject to contract, reflecting a net initial yield of 8.0% and a capital value of £89 per sq ft, assuming purchaser’s costs of 5.70%.
Please note that a purchaser will be re-charged the costs of measured survey (£990.00 + VAT) and searches (£1,240.64) which are provided in the data room.
Please note that a purchaser will be charged a Transaction Fee of £5,000 plus VAT.
Investment Considerations
An opportunity to acquire an industrial / trade counter investment;
The property is multi-let and income producing;
The property is situated in an established commercial location;
The property provides opportunities to actively manage;
Healthy occupational demand with several recent lettings/lease renewals;
A purchase at the asking price will provide an investor with an attractive net initial yield;
A purchase at the asking price reflects a low capital value;
An attractive lot size to an investor.
Contacts
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Singer Vielle
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Vendor's Solicitor Firm
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