Crooklands Road, Milnthorpe, Cumbria, LA7

* Modern Single Let Industrial Investment in Cumbria
* Excellent transport communications located approx 2.5 miles from M6 Motorway
* Located c. 10 miles south of Kendal, along the M6 linking Cumbria with Lancashire and the wider North West region
* Modern distribution warehouse with ancillary office accommodation
* Total floor area of 5,913 sqft
* Parking for 15 vehicles
* Let to Pelta Medical Papers Limited
* New FRI lease for a term of five years wef 8 May 2024, expiring 7 May 2029
* Total Rent of £55,000 per annum (£9.30 psf)
* Rent to be reviewed on the third anniversary to OMRV
* Freehold
* Offers in excess of £654,000, exclusive
* Net Initial Yield of 8.00%
* Capital Value of £110 psf


An opportunity to purchase a strategically located, self-contained and modern warehouse unit positioned on a significant site with HGV loading, private parking and forming part of the popular Mainline Industrial Estate. The flexible warehouse accommodation provides a gross internal area of 5,913 sq ft and benefits from refurbished accommodation throughout, upgraded external cladding, new roller shutter door, modern open plan office accommodation and offers flexibility to provide secure external storage.

LOCATION

The property occupies a prominent position on Mainline Industrial Estate at the eastern outskirts of Milnthorpe, South Lakeland, which is at the southern end of Cumbria, in the North West of England. The estate has a variety of uses that include trade, transport and storage and distribution companies that include Kalisan, Pelta Medical Papers, James Cropper 3D Products, Heartwood Bespoke joinery, J T Leyland, Lake Loos and Bay Search & Rescue.

Milnthorpe is a large village with a population of 2,199 (2011 Census) which was originally a port, using the River Bela and estuary (now only navigable to Arnside) and remains a lively commercial centre for South Lakeland.

The town benefits from tourism and hospitality being situated on the A6 between Carnforth and the A590 offering good local facilities including a Booths Supermarket, a number of public houses and restaurants and separate primary and secondary schools. Local areas of interest include Dallam Tower and Estate well known for its attractive walks that take in the River Bela and a large population of deer and also Levens Hall and Gardens which is a short distance to the north. Arnside is 3 miles away taking in Morecambe Bay and the Arnside and Silverdale AONB extends south of Milnthorpe including Gait Barrows National Nature Reserve, Leighton Moss and Warton Crag Nature Reserve.

The nearest and principal town of South Lakeland is Kendal which is around 9 miles to the north with a resident population of 29,495 (2011 Census) hosting a wide range of retail and leisure facilities. The nearby village of Oxenholme has a train station on the West Coast main railway line providing direct routes to London (approximate journey time 2 hours 50 minutes) and Glasgow (1 hour 45 minutes).

Carnforth and Junction 35 of the M6 motorway are around 9 miles to the south accessed from the A6 and the nearest city, Lancaster, is a further 6 miles south, and is a historic and cultural city with a central population of 52,234 (2011 Census) and a wider district population of 138,375 encompassing several settlements including Morecambe. Lancaster is the County Town of Lancashire having excellent communications from the M6 motorway Junction 33 to the south and Junction 34 to the north. It also has a train station on the West Coast Railway Line.

Mainline Industrial Estate situated on the B6385 which travels to Crooklands, providing a direct route to Junction 36 of the M6 just 3 miles away.

DESCRIPTION

The property provides a modern refurbished warehouse development of steel portal framed construction, with profile clad elevations, pitched insulated profile clad roof with translucent roof panels, electric roller shutter doors and secure pedestrian doors.

The unit benefits from a total floor area of approximately 5,913 sq ft, 5 X dock level loading doors, 6m eaves, three phased electricity and ancillary office accommodation.

Externally, the car parking, front forecourt and site is laid with tarmacadam/concrete hardstanding and there is hardcore/gravelled storage land to the side.

TENANCY

The property is let to Pelta Medical Papers Limited on a new FRI lease for a term of five years wef 8th May 2024, expiring 7th May 2029. The initial rent of £55,000 per annum (£9.30 psf) is to be reviewed on the third anniversary in line with OMRV. The tenant's repairing liability is limited by way of a schedule of condition. The lease is contracted out of the Landlord & Tenant Act 1954.

ACCOMMODATION

It is understood that the premises provide the following approximate gross internal measurements:

Total approximate Gross Internal Areas 549.34m² (5,913 sq ft)

PELTA MEDICAL PAPERS

Pelta Medical Papers Limited were incorporated in 1901 and are global leaders in the supply of packaging of medical devices, food packaging and industrial applications.

The company is intrinsically linked to the local area, as they are the owners of Beetham Mill, Milnthorpe, where they have been developing and diversifying the range of paper products since 1788.

Today Pelta Medical Papers are owned by Inspirt, following acquisition in October 2021 and operate in 49 countries, serving over 220 clients with over 50 products.

SERVICES

The property is connected to mains electricity (three phase), water and the mains drainage/sewage system.

Prospective purchasers/occupiers should make their own enquiries as to the services available for future use.

A service charge is recovered from the tenant for the upkeep and maintenance of the common parts.

TENURE

The property will be provided Freehold.

PROPOSAL

Offers invited with a guide price of £654,000 exclusive for the freehold. The sellers reserve the right not to sell and are not bound to accept the highest or any offer received.

VAT

All figures quoted are exclusive of VAT where applicable.

RATEABLE VALUE

Prospective Tenants should make their own enquiries direct to the Business Rates Department at Westmorland & Furness Council.

ENERGY PERFORMANCE CERTIFICATE

The property has an Energy Performance Asset Rating of D81 and the EPC Certificate is available to download from the Edwin Thompson website.

MONEY LAUNDERING LEGISLATION

Edwin Thompson is bound to comply with Anti-Money Laundering legislation including obtaining evidence of the identity and proof of address of potential buyers/tenants. Prior to an offer being accepted, interested parties will need to provide the requested evidence.

EASEMENTS, WAYLEAVES AND RIGHTS OF WAY

The land and property are available subject to and with the benefit of all public and private rights of way, lights, drainage, cable, pylons or other easements, restrictions or obligations whether or not the same are described in these particulars.

LEGAL COSTS

Each party is to bear their own legal costs in the preparation and settlement of the lease documentation together with any VAT thereon.

VIEWING

The property is available to view by prior appointment with the Windermere office of Edwin Thompson LLP. Contact:

Joe Ellis - at our Windermere office.

IMPORTANT NOTICE:
Edwin Thompson for themselves and for the Vendor of this property, whose Agents they are, give notice that:
1. The particulars are set out as a general outline only for the guidance of intending purchasers and do not constitute, nor constitute part of, any offer or contract.
2. All descriptions, dimensions, plans, reference to condition and necessary conditions for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchasers should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to their correctness.
3. No person in the employment of Edwin Thompson has any authority to make or give any representation or warranty whatsoever in relation to this property or these particulars, nor to enter into any contract relating to the property on behalf of the Agents, nor into any contract on behalf of the Vendor.
4. No responsibility can be accepted for loss or expense incurred in viewing the property or in any other way in the event of the property being sold or withdrawn.
5. These particulars were prepared in February 2024.