Rhino Products
Zone Two Sixth Avenue
Deeside Industrial Park, Deeside, CH5 2LB£4,925,000
freehold
Sold
Summary
- Single let industrial investment with a recently renewed lease to an excellent tenant
- A modern facility extending to 48,990 sq ft on a 2.3 acre site
- Located in a prime situation on Zone 2 of Deeside Industrial Estate
- Let to Rhino Products Ltd on a 10 year FRI renewal lease wef 01/08/2025 and expiring 31/07/2035
- Passing Rent of £367,425 Per Annum reflecting a rate per sq ft of £7.50
- Freehold
- Tenant option to determine on the 5th anniversary of the term
- Rent review on the 5th anniversary of the term in line with OMV
- The tenant has been in occupation since 2010
- We are instructed to seek offers in excess of £4,925,000 subject to contract and exclusive of VAT. Assuming purchasers costs of 6.59%, a purchase at this level reflects a Net Initial Yield of 7% and a Capital Value of £100.53psf
Description
- Three purpose built industrial units - Steel portal frame construction - Metal sheet profile cladding to elevations and roof - Two separate secure yards - Dedicated parking - Perimeter fencing and security gates - Power capacity up to 300kva Warehouse One - Manufacturing/ storage facility - 3x electronically operated loading doors - Ground floor reception/ canteen/ office and welfare facility - First floor office accommodation and a substantial warehouse mezzanine which has been fitted out by the tenant and excluded as part of the measurements. - Eaves height of 9.5 metres Warehouse Two - Storage facility - 2x dock level and 1 x drive in loading under a protective canopy. - Office/welfare facilities - Eaves height of 9.2 metres Warehouse Three - Purpose built welding bay - 1x electronically operated loading door - Min eaves height of 4 metres
Proposal
We are instructed to seek offers in excess of £4,925,000 (Four Million, Nine Hundred and Twenty Five Thousand Pounds) subject to contract and exclusive of VAT. Assuming purchasers costs of 6.59%, a purchase at this level reflects:- - Net Initial Yield 7% - Capital Value £100.53psf
Tenancy
The Property is let on the following basis:- - A full repairing and insuring lease to Rhino Products Ltd (company no. 04734369). - A new 10 year renewal lease has been agreed wef 01/08/2025 - The passing rent is £367,425pa which reflects a rate per sq ft of £7.50. - The lease provides for a rent review on the 5th anniversary - A tenant only break clause upon the 5th anniversary
Tenure
The property is held Freehold (title number CYM184168)
Covenant
Rhino Products Ltd are one of the worlds leading manufacturers of commercial vehicle accessories. These accessories include van racking, roof racks, bars, ladder transportation systems, rear steps, side step and door ladders. The company supplies and distributes globally with offices and warehousing in Ellesmere Port, Deeside, Nantwich, Poland, Netherlands and Sweden. Rhino Products Ltd have an Experian credit rating of 100 and are "very low risk". The company recorded a pre tax profit of £3,539,584 in 2024 and a pre tax profit of £1,741,116 in 2023
VAT
The property is elected for VAT and the transaction will be treated as a Transfer of Going Concern
No files available.
No files available.
Enquire about this property:
Please complete the form or contact our Agent ben
