Elmsfield Park on the market for £12.8m
CBRE is handling the sale of the multi-let industrial estate, which sits close to the M6 in in Carnforth, Lancashire.
Comprised of light industrial units of various sizes with a sprinkling of office units, the estate offers 172,000 sq ft in total.
Lanbro Developments is the vendor for the site, which comes with 1.5 acres of available development land.
Planning permission is already in place for almost 37,000 sq ft of industrial accommodation on the site.
There are eight current tenants which include Ace Joinery Services, Ronal Bathrooms, and MSP Technologies.
The freehold of the estate measures up to almost 40 acres, split between the industrial area of close to 20 acres, and 21.65 acres of arable land.
For an investor, the estate offers a net initial yield of 8%, a reversionary yield of 9.41%, and a low capital value of £75 per sq ft, according to the sales brochure.
Robert Woods, senior director at CBRE, said: “We are delighted to bring this multi-let industrial estate to market with development and asset management angles going forward.
“The majority of tenants have been on site for in excess of 10 years and enjoy the working environment the park provides.”
Offers in excess of £12,855,000 are being sought.
