COMMERCIAL DEVELOPMENT OPPORTUNITY
The premises are located within Baldovie Industrial Estate, which is situated approximately three miles north east of Dundee City Centre. More specifically the subjects are located on the east side of Forties Road at its junction with Drumgeith Road at the main entrance to the Industrial Estate. Nearby occupiers include Dundee City Council, Michelin, Rembrand Timber, Aerospace Tooling and Specialist Timber Products.
The subjects comprise a substantial former industrial facility of steel portal frame construction extending to approximately 44,000 sq ft on a total site area of approximately 1.42 hectares / 3.51 acres.
The site is regular in shape and accessed off Forties Road.
Externally there is a large tarmac surfaced car parking area together with a tarmac and concrete surfaced yard area.
The subjects are bound by Drumgeith Road to the north, Forties Road to the west, a recycling plant to the south and open land to the east.Rating
The subjects are not currently enetered in the valuation roll for rating purposes.Planning
The site is covered by Policy 1: Principal Economic Development Area in the Dundee Local Development Plan and, as such, will be safeguarded for Class 4 (Business), Class 5 (General Industry) and Class 6 (Storage & Distribution).VAT
Unless otherwise stated all prices, premiums and rents quoted are exclusive of Value Added Tax (VAT) which will be payable.Entry
Upon completion of legal formalities.Legal Cost
Each party shall be responsible for their own legal costs with the purchaser being responsible for any Land & Building Transaction Tax and VAT incurred thereon.Viewing
Strictly by appointment with the selling agents.
Detached property comprising a former church premises (D1 use) which may lend itself to alternative uses, subject to planning.
The property is centrally located on the north-eastern side of Cedar Road, Cobham which is a predominantly residential street behind and running parallel to the High Street. Cobham is an affluent Surrey town located approximately 22 miles south west of central London and 12 miles north east of Guildford. The town benefits from excellent road access with the A3 trunk road less than 0.5 miles to the north east of the property, which in turn leads to the M25 (Junction 10), 1 mile to the south. Nearby Cobham & Stoke DâAbernon railway station provides a regular service to London Waterloo with a fastest journey time of approx. 36 minutes.
The property comprises a detached building of fair-faced brick construction under various clay-tiled pitched roofs. The original building forming the congregation hall, is believed to have been constructed in the mid-1930’s and has been subject to a later extension along the south / southeast elevation believed to have been added in the early-1990’s.
Internally, the original building comprises an open-plan congregation hall with a high-level false ceiling incorporating suspended strip lighting and carpeted throughout. Heating is provided by a gas-fired central heating system serving a number of perimeter radiators. Access to the hall is gained via a single-storey entrance foyer incorporating WC facilities.
Furthermore, at the northern end of the hall, there is small ‘vestry’ currently used as a small office and kitchen. Access to the more modern extension is found at the southern end of the main church congregation hall which leads into an ‘L’ shaped hall which wraps around the south-eastern corner of the original building. This area has a vaulted ceiling incorporating a number of Velux rooflights. At the northern end of the hall there is a fitted kitchen facility providing a sink, oven, hob and a number of storage units. There is also a sliding concertina partition wall which can be used to sub-divide the hall into two sections. Accessed off the hall is a storage cupboard, WC’s and a further external access door.
Externally, there is an area of hard-standing finished with tarmacadam which provides parking for approx. 10 + vehicles. However, the area cross-hatched blue is subject to a lease. Please see ‘Tenancies’ section for further information relating to this part of the external demise.Tenancies
Please see brochure for further information.Contacts & Viewings
Please contact the sole selling agents Hurst Warne on 01372 360 190.
Lonsdale Gate is well situated in the affluent town of Tunbridge Wells just a few minutes drive from the A26 Mount Pleasant Road. The premises are adjacent to Tunbridge Wells mainline railway station which provides a regular service into central London (London Bridge - 46 mins, London Waterloo - 51 mins). Lonsdale Gardens is a private road which contains a mixture of offices and residential properties. On street parking is available for the use of the occupiers and is regulated via a private security company. Just a few minutes walk are numerous town centre amenities including shops, leisure facilities, and restaurants, with the main town centre and Pantlies www.thepantiles.com being only 10 minutes walk away.
The property comprises an office building arranged over ground and three upper floors with 38 car parking spaces to the rear of the property. We understand that the building was constructed in the late 1980's and is of concrete frame construction with brick elevations under a pitched tiled roof.Amenities Suspended ceilings with category 2 lighting Raised access floors Gas fired central heating 6 person passenger lift Tenure and Tenancy
The building and site are held freehold under title K672423.
The occupational lease has recently been surrendered and a new lease granted on the following terms:New lease dated 10 September 2018 expiring 31st December 2019. Tenant - Thompson Snell & Passmore LLP www.ts-p.co.uk. There is a tenant only option to determine the lease from the 25th June 2019 on 1 month prior written notice (further information from the agent). The current passing rent is £140,220 per annum, exclusive (£14.60 per sq ft) rising to £216,000 per annum, exclusive (£22.50 per sq ft) from 25th March 2019. There is excellent scope for further significant reversion in the office rent. Indeed, rents in the town have now reached the late £20's with very limited new or refurbished stock coming to the market for the foreseeable future. Fully repairing, subject to a Schedule of Condition (the tenant will not be expected to hand back the premises in any better repair and condition than documented within the schedule). The new lease is held outside of the security of tenure and compensation provisions of the 1954 Landlord & Tenant Act. Potential Residential Redevelopment
The exisiting office building has been granted Notification for Prior Approval for a Proposed Change of use from Office Use (Class B1(a)) to Dwellinghouse (Class C3) to create 15 flats. Reference 17/03739/PNOCLA. Full information can be found on the Tunbridge Wells Borough Council website.
Furthermore, the vendor has had a successful pre-application meeting with the planning authority for the creation of 9 x high quality residential units over 5 floors in a contemporary style. Please see design principles and artist's impressions provided by Re-Format Architects (Rex Milton/Dan Brunt - 01730 778778). Positive feedback was received from the council, which is set out in a pre-application statement dated 18th July 2018 ref 18/01970/PAMETT (available on request).Accommodation
The office building provides the followign approximate floor areas:
| Floor | Sq ft | Sq m |
| Reception | 160 | 14.86 |
| Ground floor office | 2,277 | 211.54 |
| First floor office | 3,046 | 282.98 |
| Second floor office | 3,046 | 282.98 |
| Third floor office | 3,046 | 282.98 |
| Total | 9,600 | 891.86 |
The above floor areas have been measured on an NIA basis.
Note: Gross measurements and CAD plans are available on request.Terms
Offers sought in excess of £4.20 million for the freehold interest subject to income of £140,220 pax rising to £216,000 pax from March 2019. A purchase at this level represents a capital value of £313 per sq ft net for the building and £5.71m per acre for the rear development site.VAT
The property is elected for VAT and will be applicable to the purchase.Conservation Area
The site lies within the Tunbridge Wells Conservation area and also falls within the Royal Tunbridge Wells & Southborough local character area which is described as urban.Further Information
Further information including plans (PDF and CAD), title information, pre-application information etc. can be downloaded from the data room. Access on request.