For SaleIndustrial Multi Let Investment Opportunity For Sale Freehold with Development Potential and Part Vacant Accommodation
Boston
Saxon Site | Riverside Ind Estate | Marsh Lane | Boston | Lincs | PE21 7PJ
* 1.4 Acre Mainly Concrete Site
* Over 16,600sqft, 1,645sqm of Buildings
* Combined Rental Income of £57,190 pa on FRI Terms
Location…
The market town of Boston has a population of approximately 72,000 residents and is located on the South Lincolnshire Fens close to the A16, A52 and A17 trunk roads.
The property has a rich commercial history and association with the nearby agricultural lands with a large port, hospital, well regarded retail and sporting offerings.
Riverside Industrial Estate is an expanding estate located in the Southeast quadrant of the town, close to the A16 trunk road. Marsh Lane is the main road within the estate leading to the BAEF1 and BAEF2 power station projects and Bittern Way.
Description…
The property comprises an industrial site which is multi let producing approximately £57,000 per annum with vacant parts being left by the current owner occupiers, having an ERV of an additional £12,000 pa.
The main buildings are arranged close to the road on the western side of the site. The site benefitting from 2 gated accesses and additional space to the rear.
The current site to building ratio is approximately 28% indicating that there is development potential by increasing the built area.
The main lettings are a pair of engineering companies, Euroflow and BV Fabrications Ltd, in a steel frame building of conventional construction with brick infill panels and a proportion of offices and mezzanine storage.
A driveway leads to the rear where there is an open store which is partially enclosed occupied by the sellers, a scaffolding company and partly occupied by BV Fabrications.
This is located within a yard, mainly in occupancy by BV Fabrications, in addition to which is another unit currently vacant as it is owner occupied with a partially enclosed store.
A second vehicular access to the north leads to a separate motor vehicular repair workshop with yard and storage let under a separate lease.
Schedule of Tenancies and Schedule of Accommodation…
|
|
GIFA |
GIFA |
Passing Rent pa |
Lease Expires |
|
Euroflow Automation Ltd (Mezzanine) |
550m2
(117m2) |
5,920ft2
(1,260ft2) |
£27,000 |
30/04/25 |
|
BV Fabrications Ltd |
450m2
|
4,845ft2
|
£16,212 |
13/06/27 |
|
ZP Motors Ltd |
169m2 |
1,820ft2 Plus yard |
£12,600 |
31/07/28 |
|
ABM Scaffolding
|
300m2 |
2,150ft2 |
£1,380 |
13/06/24 Holding Over |
|
Total Let Area (excl. Mezzanine) |
1,469m2 |
14,735ft2 |
£57,192 |
|
|
Owner Occupied Areas
|
||||
|
Portacabin |
70m2 |
755ft2 |
|
|
|
Rear Store |
52m2 |
560ft2 |
|
|
|
Rear Document Store |
54m2 |
580ft2 |
|
|
|
Total Owner Occupied |
176m2 |
1,895ft2 |
ERV £12,000 |
|
|
Total Accommodation |
1,645m2 |
16,630ft2 |
Total Passing Rent and ERV pa |
|
|
Site Area
|
0.58 ha |
1.42 acres |
£69,492 |
|
Agent’s Notes…
The property is sold subject to the existing occupational leases. For more information, please contact the agent.
Rateable Value…
The units are individually rated, full details available on request.
EPC…
The Fabrication Unit has an Energy Performance Asset Rating D85, Full details are available on request.
Viewing…
All viewings are to be made by appointment through the agent.
Poyntons Consultancy.
Property Details
- £575,000
- Marsh Lane, Boston, PE21 7PJ
Saxon-Site-Riverside-Ind-Est-Boston-Investment-Brochure.pdf