Fresh Produce Centre, Withybush Industrial Estate, Haverfordwest SA62 4BW
- Property Type: Investment
- Size: 3,440.92 sq m (37,039 sq ft)
- SECURE LONG-TERM FREEHOLD INVESTMENT
- DETACHED WAREHOUSE ON A SECURE SELF-CONTAINED SITE
- ESTABLISHED COMMERCIAL LOCATION
- LET UNTIL 2049 (BREAK IN 2036)
- CURRENT INCOME £157,500 PAX (NEXT UPWARD ONLY RENT REVIEW IN 2029)
- OFFERS IN THE REGION OF £2,250,000
LOCATION
The property is located in the established Withybush Industrial Estate, which lies approximately 3km north of Haverfordwest, 45km west of Carmarthen and 130km west of Cardiff. Haverfordwest is the principle town of Pembrokeshire with a population of c 90,000 people.
Withybush Industrial Estate is home to several major occupiers including Howdens, Booker Bash & Carry, Days Ford & Peugeot car dealerships, Puffin Produce and Wynnstay.
DESCRIPTION
The property comprises a detached warehouse with office accommodation, mezzanine storage and ancillary workshop space.
Externally, the property benefits from a large car park, yard area and circulation space.
The property is accessed via a secure gate entry system from Withybush Road, which leads to the car park and buildings beyond.
ACCOMMODATION
| Sq M | Sq Ft | |
| Warehouse | 1,893.98 | 20,387 |
| First Floor Offices | 242.00 | 2,606 |
| Warehouse Mezzanine | 941.82 | 10,137 |
| Workshop/store | 363.12 | 3,909 |
| Total | 3,440.92 | 37,039 |
RATEABLE VALUE
We have been informed via an online enquiry with the Valuation Office web site, that the property has the following rateable value: £49,500
UBR for Wales 2026/27 is 0.502p in the £.
Interested parties are advised to verify this information.
EPC
Energy rating B26 – Cert no 0180-0435-1319-2302-7092
TENURE
We are advised that the property is held under two separate freehold titles; edged blue and red on the plan below.
TENANCY
The property is let to Nijjar Property Limited, for a term of twenty-five years from 11 September 2024, expiring 10 September 2049. The current rent is £157,500pax, which is subject to upward only review in 2029, 2034, 2039 and 2044. The tenant is permitted to break the lease on 11 September 2036 subject to six months notice. The lease is held on full repairing and insuring terms subject to a schedule of condition. The lease is guaranteed by Nijjar Group Freshway Holdings Limited until 10 September 2036.
Nijjar Property Limited are a milk and cream processing private limited company, with a risk score of 50(out of 100)C ‘Low to moderate risk’. 2024 accounts show turnover of £207,621,591, with a pre-tax profit of £924,211 and shareholder funds of £1,866,212.
Nijjar Group Freshway Holdings Limited (the guarantor) are a group engaged in processing milk, wholesale and retail associated products, with a Risk Score of 88(out of 100)A – ‘Very Low Risk’. 2024 accounts show a turnover of £359,786,454, with a pre-tax profit of £1,663,567 and shareholder’s funds of £17,663,458.
PROPOSAL
Seeking offers in the region of £2,250,000 (Two Million, Two Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level would reflect a capital value of £60 per sq. ft, and the following yield profile:
Net Initial Yield:6.57%
Assuming standard purchaser’s costs at 6.51%
ANTI MONEY LAUNDERING REGULATIONS
Regulations require checks on all prospective tenants/purchasers. Photo ID plus proof of address is required before a transaction can proceed. AML searches are outsourced to our partner Credas (Certified Digital Identity Verification Service).