Mon, 27 Sep 2021 | COMMERCIAL PROPERTY
A 52,797 sq ft warehouse with four industrial units in Bangor, Wales, is up for sale, with offers being sought in the region of £2.86 million. The site is being brought to auction by property agent Avison Young.
The warehouse, which is currently let to whisky-maker Aber Falls Distillery, is located close to Bangor’s city centre at the Gateway Park, at the entrance of the Llandegai Industrial Estate on Llandegai Road.
The site comprises four secure warehouses: Unit 11; Unit 18; Unit 11A and Unit 17. Unit 11 has car parking adjacent, a storage area, first floor offices and is linked to Unit 18 by an opening which is large enough for forklift access. Unit 18 has ground floor ancillary accommodation, first floor offices and is located next to an outside area with potential to be developed into a service and parking area, providing independent access to the unit.
Unit 11A is linked to Unit 11 via a pedestrian access door and features substantial loading area and an area of landscaping with the potential to be developed into further storage or loading. Unit 17 is the largest unit and is currently fitted out as a bottling plant. The unit also has parking, additional land with the potential for development and is currently in the process of having toilets, offices and a canteen fitted.
The site has low passing rent of close to £244,000, reflecting an average price of £4.62 per square foot. Aber Falls Distillery currently lets the site with an AWULT of 8.76 years to expiry. The lease is guaranteed by Halewood Wine and Spirits.
Avison Young Director Oliver Rowe said: “The sale is a great opportunity to acquire an industrial investment with good income, secured to well-known and successful local company with the backing of a large PLC.”
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