Globe Road, Bootle, Merseyside, L20

LOCATION/SITUATION

Pacific Road is strategically located to the north of Liverpool City Centre and 1.2 miles (4 minutes' drive) from the Port of Liverpool.

Pacific Road is accessed from Rimrose Road (A565) via Atlas Road or from Queens Drive via
Breeze Hill (A5057) and Irlam Road. Bootle Oriel Road and Bootle New Strand Metro Stations are
both within 10 minutes' walk.

Occupiers in the area include Lookers Vauxhall Liverpool, CCX Tyres, Liverpool Volkswagen, Liverpool Audi, Alex Lawrie Skoda, Travis Perkins and Beers Timber & Building Supplies.

DESCRIPTION

The units form part of a wide terrace of warehouse and production units in an established industrial location bounded by Globe Road and Pacific Road.

The units are of steel truss construction with a minimum internal working height of 6.5m. Units 1 and 2 have recently been refurbished to include a new roof and Unit 3 has an office and WC refurbishment and cutting edge corrosion treatment to the roof. All units are serviced by a single loading door leading to an enclosed and covered, external loading apron. Each unit benefits from a small office and WC facilities.

ACCOMMODATION

Unit 1 - 4,359 sq ft, with 1,760 sq ft internal yard.

Unit 2 - 5,640 sq ft, with 2,260 sq ft internal yard.

Unit 3 - 6,947 sq ft, with 1,883 sq ft internal yard.

TENANCY DETAILS

The units are all leased and generate a total income of £100,988 sq ft. Tenants include Acquarius Canal Boat Builders Limited, PB Site Engineering Services Ltd and The Bespoke Boat Company NW Limited. Further details can be found by downloading the brochure below.

EPC

Unit 1 - B44
Unit 2 - B33
Unit 3 - B47

TENURE

Freehold.

VAT

The property is elected for VAT, however, it is envisaged that a transaction would be
in the form of a Transfer of Going Concern (TOGC).

PROPOSAL

We are instructed to seek offers in excess of £1,150,000, subject to contract and exclusive of VAT. This reflects a net initial yield of 8.35% and capital value of £67.00 per sq ft.

Based on an overall ERV of £6.50 per sq ft, this would be a reversionary yield of 9.05%, with all lease events occurring within the next 18 months.