Berlin Packaging, Tandem Industrial Estate, Huddersfield, West Yorkshire, HD5 0BL

• Well located, purpose built industrial unit, situated within an established commercial location in Huddersfield.

• GIA of 46,355 sq ft (4,307 sq m) on a site area of approximately 3.36 acres providing a low site coverage of 31%.

• Additional undemised site has a lapsed planning consent for a 4x B1/B8 scheme of 19,500 sq ft.

• Freehold.

• Let to Berlin Packaging Metal UK Limited, guaranteed by Berlin Packaging Ltd, on an unbroken 10 year reversionary lease from 1st September 2021, expiring 31st August 2031.

• The tenant has been in occupation for over 40 years.

• The current rent is £144,000 pa (£3.11psf) which rises by way of stepped increase to £160,000 pa (£3.45 psf) in Jan 2023. The Vendor will top up the rent upon completion.

• Based upon comparable evidence in our opinion, we consider the rent passing to be highly reversionary.

• For the year end 31st Dec 2021, Berlin Packaging Ltd had a Net Asset Value of £25.76m.

• The vendors are seeking offers of £2,000,000, Subject to Contract. After allowing for Purchaser’s costs of 6.31% this would reflect a Net Initial Yield of 7.50% and a low Capital Value of £43 per sq ft overall.