Description -

A modern semi detached industrial unit constructed in the late 1980's of brick and profile steel elevations under a single pitch insulated roof. The premises include warehouse space with offices on the ground and first floor, kitchenette and WC's. There is an extensive mezzanine floor providing additional storage accommodation and forecourt parking to the front of the unit.

INVESTMENT SUMMARY
The premises are currently let to Vincico Ltd for a term of 10 years from 3rd September 2024 at a passing rent of £38,500 per annum.

There is a tenant only break option on 3rd September 2029 operable with six months prior written notice. The lease is contracted outside Part II of the 1954 Landlord & Tenant Act.

Accommodation -

The premises comprise the following approximate Gross Internal Areas:

Warehouse space including
Office, Reception, WCs & Kitchenette - 2,517 sq ft / 233.84 sq m

First Floor Offices - 564 sq ft / 52.40 sq m
Sub Total - 3,081 sq ft / 286.23 sq m
Mezzanine Storage - 1,551 sq ft / 144.09 sq m

Overall Total - 4,632 sq ft / 430.37 sq m

Terms -

Our client seeks £625,000 for their freehold interest.

VAT is applicable.

DUE DILIGENCE
To comply with our legal responsibilities for Anti-Money Laundering it will be necessary for the successful bidder to provide company information, identification and proof of funds before the deal is completed.

Rateable Value -

The Valuation Office indicates a Rateable Value as of 1st April 2023 of £31,250. Rate in the £ for 24/25 is 49.9p

Energy Performance Rating -

The EPC rating for this property is E-121.