INDUSTRIAL INVESTMENT
Prime industrial location approximately 4 miles from Immingham Town Centre and Immingham Docks
Combined site area of 2.81 acres with approximately 21,640 sq ft of office and warehouse accommodation
62% of income secured to Altrad Integrity Services Limited, a subsidiary of the Altrad Group
Passing rent of £145,000 per annum, increasing to £155,000 in February 2026
Guide Price: £2,000,000 reflecting a net initial yield of 6.85% and a reversionary yield of 7.75%
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The property is situated on the north side of Lancaster Approach within the North Killingholme Industrial Estate, part of the wider Immingham Port Complex, approximately 4 miles from Immingham Town Centre.
North Killingholme is a well-established industrial hub home to key assets including Lindsey Oil Refinery, Killingholme B Power Station, and North Killingholme Haven - a deep-water roll-on/roll-off terminal handling container traffic.
Nearby occupiers include Hargreaves Industrial Services, Sunbelt Rentals Limited, and Revis Transport. Excellent transport links are provided by the nearby A180 (via the A160), less than 2.5 miles distant, offering direct access east to Grimsby and west to the M180 and wider motorway network.
Description
Workshop 1
Comprising two interconnected industrial units with two-storey ancillary offices to the front, providing comprehensive office and staff facilities.
Mezzanine storage is included within the warehouse. The property benefits from a minimum eaves height of 5 metres and multiple roller shutter doors.
A separate two-storey brick-built office building, with a recently refurbished flat roof, is located on the eastern boundary offering flexible open-plan office accommodation and staff facilities.
The workshop sits within a site extending to approximately 1.76 acres (0.71 hectares), providing a substantial yard and dedicated car parking.
Workshop 2
Comprises a detached workshop with single-storey offices to the front. The workshop includes an overhead crane and benefits from a minimum eaves height of 5.5 metres. The offices provide a reception area, separate offices and staff facilities. A mezzanine storage area is also incorporated within the workshop.
To the rear is a detached steel-framed warehouse with profiled metal cladding, providing additional storage accommodation. Additional office space is provided in a two-storey brick-built office building with a flat roof, adjacent to the main warehouse and linked to the single-storey offices at the front.
The workshop is located within a generous concrete yard with car parking to the front relative to the building footprint and extending to approximately 1.05 acres (0.43 hectares).
Accommodation
Workshop 1 - Altrad Integrity Services Limited | ||
Warehouse 1 | 694.90 sq m | (7,480 sq ft) |
Ancillary Offices | 165.40 sq m | (1,780 sq ft) |
Mezzanine | 131.74 sq m | (1,418 sq ft) |
Warehouse 2 | 507.20 sq m | (5,460 sq ft) |
Detached Offices | 384.20 sq m | (4,136 sq ft) |
Total | 1,883.44 sq m | (20,723 sq ft) |
Workshop 2 - BJW Cranes Limited | ||
Workshop | 413.33 sq m | (4,449 sq ft) |
Ancillary Offices | 164.30 sq m | (1,769 sq ft) |
Detached Offices | 233.92 sq m | (2,518 sq ft) |
Warehouse (to rear) | 314.43 sq m | (3,384 sq ft) |
Mezzanine | 69.80 sq m | 69.80 sq m |
Total | 1,195.78 sq m | (12,871 sq ft) |
Terms
The freehold interest is offered for sale subject to existing leases at a guide price of £2,000,000, reflecting a net initial yield of 6.85% (assuming purchaser’s costs of 5.8%) and a reversionary yield of 7.75%. Consideration may be given to selling the property in two separate parcels.
Tenancy Schedule
Unit | Tenant | Lease Start | Lease Expiry | Break Option | Rent (pa) | Rent Review / Uplift Term |
Workshop 1 | Altrad Integrity Services Ltd | 01 Sep 2023 | 31 Aug 2028 | Tenant break on 01 Sep 2026 | £90,000 | N/A |
Workshop 2 | BJW Cranes Ltd | 10 Feb 2024 | 09 Jan 2029 | Not Applicable | £55,000 | Fixed uplift to £65,000 on 10 Feb 2026 |
Tenant Profiles
BJW Cranes Limited
Founded in October 2012, BJW Cranes Ltd is a UK-based crane hire company specialising in mobile crane services and contract lifting solutions. The company operates a fleet ranging from 25 to 800 tonnes, including heavy-duty mobile and tower cranes, with seven strategically located depots across the UK, including Manchester, Teesside, and Newcastle.
Altrad Integrity Services Limited
As a recently established subsidiary of the Altrad Group, incorporated in February 2025 following the acquisition of Stork Technical Services UK Limited. The company specialises in asset integrity management for the oil, gas, and energy sectors, enhancing Altrad’s offshore and onshore UK service capabilities, particularly in the North Sea. The company holds a Creditsafe risk score of 77 and a contract limit of £42 million.
Historical Financial Information for Stork Technical Services UK Limited:
Year | Turnover (£) | Growth % | Pre-Tax Profit (£) | Growth % | Shareholder’s Funds (£) | Growth % | Employees |
2023 | 208,912,000 | 32.5% | 7,187,000 | 39.9% | 54,798,000 | 12.1% | 1,850 |
2022 | 157,716,000 | 12.1% | 5,136,000 | 33.2% | 48,899,000 | 33.4% | 1,634 |
2021 | 140,676,000 | - | 3,855,000 | - | 36,656,000 | - | 1,334 |
Altrad Group, headquartered in France, is a global leader in industrial services employing approximately 65,000 people worldwide, providing high-value solutions primarily to the oil, gas, energy, power generation, process, environment and construction sectors.
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