Carrington Gateway, Carrington, Manchester

A Prime Multi-Let Industrial Investment Opportunity

• Carrington Gateway is a prime multi-let industrial investment
• Carrington Gateway forms part of Phase 1 of the Carrington Estate, one of the UK’s largest regeneration schemes
• Strategically located within 3 miles of Junction 8 of the M60 orbital motorway, with easy access to the M6, M62 and M61 regional and national motorway network
• Prominently situated fronting the A6144 (Manchester Road)
• Total floor area of approximately 211,283 sq ft, arranged in 6 units, ranging from 10,469 sq ft to 103,995 sq ft
• Design-led architecture in a landscaped environment, combined with a Grade A specification
• Let to a range of national and regional businesses within 11 months of practical completion
• The asset will benefit from forthcoming new infrastructure improvements, including the Carrington Relief Road
• Total passing rent of £1,486,954.75 per annum, equating to a low average rent of £7.04 psf
• Significant reversion with a total ERV of £1,731,354.75 per annum (£8.19 psf)
• Site area of 16.1 acres, representing a site density of approximately 30%
• BREEAM rating ‘Very Good’ and EPC B
• The property is held virtual freehold on a 999-year long leasehold interest at a rent of £100 per annum
• We are instructed to seek offers in excess of £32,390,000 (Thirty Two Million, Three Hundred and Ninety Thousand Pounds) subject to contract and exclusive of VAT
• A purchase at this level would reflect a low capital value of £153.30 psf, providing the following yield profile assuming purchasers costs of 6.77%:

Net Initial Yield - 4.30%

Reversionary Yield - 5.00%

Equivalent Yield - 4.55%