Salhouse Road, Norwich, Norfolk, NR7 9AL

Property specification

• The property comprises a production facility and warehouses totaling 278,214 sq ft on an 18.74 acre plot (7.584 ha), plus an additional development plot of 5 5.99 acres (2.428 ha).
• The combined site totals 24.73 acres (10.012 ha).
• The production facility is let to Massmould Ltd (D&B 5A2), trading under Berry Superfos with a guarantee from RPC Containers Limited (D&B 5A1).
• Massmould Ltd is currently holding over from a lease that expired on 21st December 2021. There are ongoing discussions with the tenant to re-gear their lease, in return for a landlord's contribution towards improving the property.
• The business has been in operation at the premises for over 60 years. Source: www.packagingtoday.co.uk
• The tenant is paying a highly reversionary passing rent of £820,000 per annum equating to a very low £2.95 psf on the total area.
• We are instructed to seek offers in excess of £6,500,000 subject to contract and exclusive of VAT.
• A purchase at this level reflects a low capital value of £23.36 psf and £263,000 per acre overall.
• £6,500,000 / NIY 11.83%

Excellent opportunity to acquire an income-generating industrial property, complemented by adjacent development land offering immediate asset management prospects.