Key Information
- Total GIA: 14,525 sq ft (1,349.4 sq m)
- Let to Travis Perkins (Properties) Limited
- Low building to site ratio, with a site area of 1.45 acres.
- Purchase price: £1,000,000 to show an investor a gross initial yield of 6.55%
- £1,000,000 to show an investor a gross initial yield of 6.55% Covenant Quality Travis Perkins (Properties) Limited have a credit rating of Bronze, provided by Red Flag Alert, - the ultimate parent company Travis Perkins plc, has a Silver rating. The most recent accounts on Companies House to 31st December 2025 outline the strength of the company from an investment perspective, being a major supplier to the construction industry, dealing in the wholesale of wood, construction materials and sanitary equipment.
The overall site extends to approximately 1.45 acres, with access directly off Longwood Road. The main unit on site, that is occupied for trade counter purposes by the tenant, is traditionally constructed with internal block work and external steel corrugated sheeting around a steel portal frame, under a pitched insulated roof with rooflights. Internally, a large mezzanine floor has been constructed by the tenant over the majority of the warehouse that allows for an attractive trade counter and showroom facility at ground floor level, together with ancillary offices and WCs. This area has a suspended ceiling throughout, a tiled floor and provides useful stores on the mezzanine. There is a full height loading bay, with roller shutter access out onto the yard. There is a second building on site of similar construction used for storage purposes. The floor is concrete throughout, with two level roller shutter doors, once again leading out onto the yard. A substantial site allows for significant areas of open storage that is used for the display of building materials in association with the tenant's trade, together with staff and visitor car parking.
Location
Gainsborough is a thriving market town that is located on the A631 at its intersection of the A156. The town is situated some 19 miles northeast of Lincoln, and a similar distance from Doncaster to the west. The A1 and A1M lie 10 miles to the west, facilitating access to the M18 outside Doncaster and towards Newark and Nottingham in the south. The Corringham Road Industrial Estate is a significant industrial area to the east of the town that is approached via Thorndike Way / A631 dual carriageway around the town from the south. The wider area has seen significant recent industrial development, with a number of new and refurbished industrial units on the estate that houses well-known occupiers such as Ping Europe, Howdens Joinery and Screwfix, together with many other household names established locally. The subject property is located within the heart of the estate on Longwood Road and is outlined on the plan.
VAT
VAT is applicable to the purchase price, although it is envisaged that the sale will be dealt with as a Transfer of Going Concern (TOGC).
Rates
The property is currently listed as Builders Merchants and Premises and has a rateable value of £93,500. Source: VOA
Services
All mains services are connected to the site.
EPC
The premises have an EPC assessment of: B49
Legal Costs
Each party is to bear their own legal costs incurred.
Accommodation
Measurements are quoted on a Gross Internal basis in accordance with the RICS Property Measurement Second Edition.
Viewing
Viewings are by appointment with Innes England or our joint agent: Brown & Co. Tel: 01777 709 112.