17th April 2024
Taunton Technology Park for sale through Alder King
Property consultants Alder King have been instructed by Somerset Council to dispose of Taunton Technology Park off a guide price of £4 million. The part-let investment provides a rare opportunity to acquire an income-producing asset with redevelopment potential close to Taunton town centre.
Located off Lisieux Way on the eastern fringes of Taunton town centre, the complex comprises three industrial/office buildings, two of which are let, and two ancillary buildings. In total, the buildings provide 98,435 sq ft of space and occupy a site of 5.95 acres.
Building 2 is let to Novanta Technologies UK Ltd. Building 3 is let to Assura Aspire Ltd, a FTSE 250 listed real estate investment trust. The property is occupied by Synlab, a leading provider of laboratory diagnostic services for many healthcare providers including the NHS. Both buildings generate a combined annual rental income of £325,141. Building 1 and the ancillary conference and canteen buildings are vacant.
Andrew Maynard, partner at Alder King, said: “This is a unique opportunity to acquire a sizeable freehold property comprising existing buildings and land in central Taunton.
“The property offers an attractive income stream from Buildings 2 and 3 and offers scope to add further value through proactive asset management. It also has strong development potential for the remaining buildings and land, subject to securing the necessary consents.”
Further information can be found here.
