Property Description
INVESTMENT SUMMARY * Pintail Business Park is a small trade warehouse/business unit development located to the south of Ringwood Town Centre adjoining the B3347 Christchurch Road * 184 sq. m. (1,980 sq. ft.) * Let to Hyphose Limited * Lease for a term of 6 years from 5th July 2016 * Rent £18,500 pa. * Price £285,000 reflecting a net initial yield of 6.3% after purchaser's costs of circa. 3% DESCRIPTION The property comprises an end of terrace business unit constructed in 2016. The unit incorporates a full first floor which has been fitted out to provide high quality office accommodation. TENANCY DETAILS The property is let in its entirety to Hyphose Limited for a term of 6 years from 5th July, 2016. The current passing rent is £18,500 pa. The property is currently occupied by Manta Makes Limited by way of a sublease which expires on 1st July, 2022. The current passing rent under the terms of the sublease is £18,500 pa. The sublease is excluded from the security of tenure provisions contained within Sections 24-28 of the Landlord and Tenant Act 1954. COVENANT Hyphose Limited is a company formed in 1980 as a premier supplier of hose products to the industrial/automotive/marine sectors. For the year ended 31.12.2019 the company had net assets of £371,000. PRICE £285,000 - Reflecting a net initial yield of 6.3% after purchaser\\\'s costs of circa. 3.0%. (** PLEASE click the link to download marketing particulars or contact Simon West for further details -----
Measurements
- Net Internal Floor Area
| Measurement | imperial | metric |
|---|---|---|
| Industrial/Warehouse | 10,657 sq.ft | 990 sq.m |
| 1st Floor Offices | 10,657 sq.ft | 990 sq.m |
| Total Floor Area | 21,313 sq.ft | 1,980 sq.m |
