1-10 Clayton Court, Clayton Street, Wigan, Greater Manchester, WN3

The property is located at Miry Lane Industrial Estate, an established business location west of Wigan town centre.

This highly accessible location has a readily available workforce nearby and convenient access to the town centre and rail services on the West Coast Mainline. It is a well-established employment estate with a range of units to suit a wide range of local business needs.

Located just a 5 minute walk in to Wigan Town Centre and to both Wigan Wallgate and Wigan North Western Train Stations. The estate is situated 3.5 miles north east of J25 M6 motorway, and 3.5 miles east of J26 motorway.

Nearby occupiers include CEF, Edmundson Electrical, Euro Car Parts, Eurocell SIG, Toolstation, Arnold Clark and Robins & Day.

Close to Miry Lane Industrial Estate and just 0.5 miles south is Wigan Pier and Eckersley Mill. Wigan Pier and its 'Pier Quarter' project will deliver 55,000 sq ft of office, events, and commercial space, along with leisure, retail, and community facilities. The regeneration of the area will also transform Piers 2 and 3 to provide a multi-event space. Eckersley Mill and the 'Cotton Works' project is a 16 acre site to create a new neighbourhood comprising a 22,000 sq ft food hall, 68,000 sq ft Grade A offices and has planning for conversion and new build residential accommodation totalling over 950 apartments.

There is a lack of available industrial supply within a 5 mile radius of the subject property.

* Vacant availability of just 2.1%, between 1,000 sq ft and 30,000 sq ft.
* Average achieved market rent of £7.98 per sq ft and average capital value of £105 per sq ft.
* The average achieved yield is 6.40%

Other evidence for industrial and trade units of sub 5,000 sq ft in Wigan, range between £10.00 per sq ft to £12.00 per sq ft.

Leases are drawn on a Full Repairing and Insuring (FRI) basis, with insurance being re-charged to tenants by the landlord. The leases (apart from one) do not include a Schedule of Condition. The roofs are excluded from the tenants repairing liability.

The average rent passing of £4.47 per sq ft is below market rent and the overall ERV is approximately £6.50 per sq ft, generating £187,850 pax. The unit could be re-let in the future to one occupier, if the internal sub-dividing walls were to be removed creating one large open plan warehouse unit with roller shutter door access at each gable end elevation.

Offers are invited in excess of £1,740,000.

This reflects a net initial yield of 7.00% and a very low capital value of just £60.20 per sq ft.
The reversionary yield based on a conservative ERV overall of £6.50 per sq ft, is north of 10.15%.