For Sale - Under OfferTrade Counter/Builders Merchants Investment

Huws Gray, Ryland Works, Newbold Road, Chesterfield, S41 7PB

Description

PROPERTY

The property consists of three principal buildings. The main trade counter showroom and warehouse is of steel portal frame construction infilled with  brick. In addition, there is a large older warehouse/”heavy goods” storage building and a smaller standalone storage building.

The site area extends to 2.6 acres with direct access off Newbold Road, being very visible due to the site’s elevated location. 

The low building to site ratio is ideal for builders merchants/trade use with an abundance of car parking, open yard/material storage.

LOCATION

The site is situated in a prominent, accessible edge of town central location with access off Newbold Road. Ideally located for trade/builders merchants use, the site is surrounded by a range of commercial, car parking and retail occupiers. The site forms part of the Northern Gateway Redevelopment Zone with the Northern Gateway Enterprise Centre recently constructed close by.

ACCOMMODATION

Trade/Warehouse Unit: GF - 1,514 sq m (16,303 sq ft)
Trade/Warehouse Unit: FF - 444 sq m  (4,785 sq ft)
Heavy Goods Warehouse:  880 sq m  (9,482 sq ft)
Detached Storage Unit:  165 sq m (1,781 sq ft)
TOTAL:  3,003 sq m  (32,351 sq ft)

Total Site Area : 2.6 Acres

TENANCY

The property is let to Huws Gray Limited for a term of 15 years from 1st November 2023 with 5 yearly upward rent reviews on Full Repairing and  Insuring terms, with a tenant only break clause upon the 10th anniversary of the term.

COVENANT STRENGTH

Huws Gray Limited (Company No 02506633) is the UK’s largest independent builders merchant with over 250 branches nationwide and employing  over 5,500. Founded in 1990 the business has grown substantially with the last reported financials showing a turnover of over £1.4 billion and a pre-tax profit of £66,757,000.

Creditsafe rate Huws Gray Limited with a Risk Score of 100/100.

REDEVELOPMENT POTENTIAL

The site is considered ideal for future redevelopment, forming part of the Northern Gateway Vision Report commissioned by Chesterfield Borough  Council. A copy of the report can be provided upon request.

The vision allocates the site for uses including Retail, Leisure, Commercial, Housing and Hotel.

NET INITIAL YIELD

A purchase at the guide price would show a net initial yield of 6.94% after the deduction of standard purchaser’s costs. 

Please note the seller will “top up” the rent at completion to the equivalent of £147,500 per annum.