Property overview

Speciality Coatings, Dewhurst Street, Darwen, BB3 2EN

sold

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£1,500,000
Nov 2016

Franck-Steier Price has recently completed the sale of an industrial premises in Darwen on behalf of a private investor.

The property is located Dewhurst Street to the south of Darwen town centre in a mixed commercial and residential location.  The property comprises two detached warehouse building and a single story office extending to 86,00 sq.ft and built in 1990.

The property is let Speciality Coatings (Darwen) Ltd, guaranteed by International Fibres Group (Holdings) Ltd, on a lease expiring in December 2020.  The lease is subject to a schedule of condition.  The rent is £301,940 per annum.

The purchase price of £1,500,000 reflected a net initial yield of 18.97%.

The purchaser was a private investor represented by Scott Frazer.