Light industrial for sale in Wickham Road, Grimsby DN31

Great Grimsby Seafood Village, DN31 leasehold on 24 food grade industrial processing units in the Port of Grimsby.

Food processing units ranging from 85.75 sq m (923 sq ft) to 727.45 sq m (7,827 sq ft) total area of 6,647.50 sq m (71,364 sq ft) approx. Site area 1.614 Ha (4 acres) approx

Tenants include Marr Fish, ufi/Pelagia, North East Lincolnshire Council, Ideal Foods, Scofish, Ocean Bounty and Jaines.

Passing rent of £508,830.10 per annum exclusive
High occupancy only 2 vacant first floor units
Net initial yield of 11.27%
The property is situated within the Humber Freeport

Mains water, electricity and drainage are connected to the property. Each unit has its own electric supply. Water supply is via a common supply with sub-meters to each individual unit and the Landlord recharges the tenants accordingly.

Externally there is a concrete surfaced service yard providing loading/unloading, together with a tarmac surfaced car parking and extensive circulation space with a security gatehouse. Designated car parking for approximately 60 cars, dedicated lorry parking which also features a community recycling centre and storage area for fish bins.

The site is held by way of a 125 year ground lease from the 1st October 2010 from Associated British Ports. The lease is within the Landlord & Tenant Act 1954 Part II. The current ground rent is £88,708 per annum payable quarterly in advance with the next rent review being due 1st October 2025 the rent is reviewed every 3 years in accordance with the Retail Price Index (rpi). The sale of the property will be as an investment, subject to the existing tenancies contained within the tenant information. All occupational leases are drawn on a standard full repairing and insuring basis, most of which are excluded from the Landlord and Tenant Act 1954 Part II. Rent payable monthly in advance.

Estate Service Charge: The tenants are obliged to contribute towards the estate service charge levied in respect of the future repair, maintenance, upkeep, including security and waste collection to the site and the reimbursement of the annual insurance premium.