Industrial units - How much should I be paying?

[User name]

Morning all, looking for a bit of advice from the clan.

I'm looking for a small industrial unit to act mostly as personal storage and workshop for fiddling with my cars.

I've been offered a unit by a place that I asked a few months ago, something's come up.

The unit is a "Triple bay" (ie 3 roller-shutter door + columns in-between) width, by aprox 30ft deep.
Single story, 30-ish year old building (part of a long row of units) with electric and water, no other facilities.
It's on a non-premium industrial estate, so not amazing looking, rough parking area etc.

The owner has said to come and look before discussing price, so I'm wondering how much I should expect to be paying for such a unit...?

Unfortunately the Google street-view car hasnt done the estate, but here's the area:
https://www.google.co.uk/maps/@52.828987,-1.414875...

Its the row with the row of cars with a red one at each end.

[sgrimshaw]

How does this compare, regards size, location, facilities etc:

https://propertylink.estatesgazette.com/property-d...

Might at least give you a ball park to work with

[kiethton]

Something around £2.50-3.00 psf is likely the going commercial rental rate for out of the way light industrial stuff

[User name]

sgrimshaw said:

How does this compare, regards size, location, facilities etc:

https://propertylink.estatesgazette.com/property-d...

Might at least give you a ball park to work with

Those look like better quality units, and nicer car-parking etc, So I would assume a lower rent for the one I'm looking at.

My size estimate is vague of course, but lets say its 30x30ft, that makes it 900sqft.
So at £2.50/sqft that comes to aprox £2250PA (£187.50 PM) plus services probably.

I'm going to have a look at it first thing tomorrow so will update with photos and whatever is discussed to see if people agree its Extortionate / OK / Amazing value.

Edited by User name on Thursday 19th April 13:20

[dxbexpress]

Look out for any additional service charges, and legal fees.

Most importantly make sure the deal agreed is on paper. Verbal additions are hard to prove, such as if he promises to do XYZ to the building when you move in etc etc.

[Steve H]

£2.50/sqft is pretty cheap, looking at £3.50-4.00 for larger units (4000 sqft+) where I am (mids, same as OP) and smaller units would generally be more per sqft.

A lot will depend on location and more importantly current levels of demand but if you can get it for £2.50 I'd say you're doing OK.

[t400ble]

£4 per sq ft easy round here, they want £7 as a renewal!

[soxboy]

Looking at the dimensions you've given (30' x triple bay) you are looking at just under 1000 sq ft. For a unit like that it's not really one to look at as a '£ per sq ft', it's usually looked at on a '£ per week/month' basis. I would expect to pay not less than £100/ week for that sort of unit if it's in a non-too-shabby area - I don't know the area that well (I'm a commercial surveyor in Yorkshire) but been to Donington and East Mds airport plenty of times so it has a lot going for it, having good transport links.

[User name]

So.... they wanted £150 a week.

I've paid only slightly more for a premium highstreet shop of similar proportions.

That might work if I was running a business out of it, but for my purposes, WAAAAAAY beyond what I wanted to pay.

Thanks all!

[cheekymeerkat]

I've paid £2.75/sqft for 5,000sqft, for for the last 5 years on a run down estate. The estate was empty back then, and now it's full so I'm dreading renewal negotiations this year!

A huge mega size distribution centre was built near here recently, and the developers were congratulating themselves in the local paper on agreeing £5.50sqft with the new tenent on a 15 year lease - yikes! No idea what the incentives were however.