2 Diviny Drive, Carn Industrial Estate, Portadown, Craigavon, BT63

Features

• Superb Warehouse Investment 

Description

LOCATION

Diviny Drive is situated within the Carn Industrial Estate, just off the Carn Road, Portadown.  This strategic location is 5 minutes drive from the M1 motorway (junction 11) and therefore provides ease of access to the rest of the region.

The Carn and Seagoe Industrial areas of Portadown are widely seen as the premier commercial/industrial locations outside of Greater Belfast and are home to occupiers such as Almac, Craigmore, Delta, Driver Vehicle & Testing Agency, Kestral Foods and numerous car dealerships including Charles Hurst, Prentice and Isaac Agnew.

DESCRIPTION

The property comprises two modern warehouse/industrial units constructed within the past 5 years which are held under separate leases.

Both units are of steel portal frame construction with part blockwork, part profile metal clad walls with a profile metal clad roof.  Internally the units are finished to include a screed concrete floor with power floated finish and drop fluorescent lighting.  The majority of the accommodation is open plan providing vehicle servicing areas whilst the remainder is fitted out to provide offices and storage over ground and first floor levels.

Both units benefit from multiple 20 ft high electric roller shutter doors whilst also providing a miniumum eaves height of approx 23 ft.  The units are situated within a self containted site and share a fibremesh reinforced concrete slab yard.

ACCOMMODATION

The units provide the following Gross Internal Areas:

Unit 1

Servicing area - 6,125 sq ft (569.03 sq m)

Ground floor office area - 3,280 sq ft (304.72 sq m)

First floor office area - 3,027 sq ft (281.22 sq m)

Total - 12,432 sq ft (1,154.97 sq m)

Unit 2

Servicing area - 9,327 sq ft (866.48 sq m)

Ground floor admin area - 1,722 sq ft (159.96 sq m)

First floor admin area - 1,722 sq ft (159.96 sq m)

Total - 12,771 sq ft (1,186.40 sq m)

The units are situated on a site of approximately 1.93 acres.

LEASE DETAILS

Unit 1

Tenant - TBF Thompson (Garvagh) Ltd

Lease Terms - 25 years

Commencement Date - 1 May 2004

Annual Rent - £68,000 pax

Rent Review - 5 yearly upwards only

Unit 2

Tenant - TBF Thompson (Garvagh) Ltd

Lease Terms - 25 years

Commencement Date - 1 May 2007

Annual Rent - £74,000 pax

Rent Review - 5 yearly upwards only

Both units are let on full repairing and insuring terms.

TBF Thompson (Garvagh) Ltd have a Dun & Bradstreet rating of 2A2 with a net tangible worth at December 2006 of £2.59 million.

TITLE

The property is held under a head-lease dated 4th May 1995 for a term of 999 years from the 31st January 1989 at a peppercorn rent if demanded.

PRICE

Offers in excess of £2.45 million pounds sterling exclusive.

This reflects an initial yield of 5.48% allowing for purchasers costs of 5.75%.

For further details please contact mark.mccaul@dtz.com

Or Joint Agents

Osborne King, Tel 028 90270000, FAO Robert Ditty/Kirsty McCollum

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