Industrial units for sale in Great Billington, Bedfordshire
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The unit is a purpose-built car dealership totalling 10,009 sq ft (930 Sq M). Internally, the extensively glazed showroom area is located at ground level with office and workshops to the rear. Beyond these is a valet bay and workshop area with mechanics’ staff area. The first-floor mezzanine provides office accommodation, staff room and storage facilities. Externally, the car display area wraps around the building.
The property is let to Pendragon Property Holdings Ltd, guaranteed by Pendragon PLC, on a lease commencing 4th July 2005 for a term of 20 years and expiring 3rd July 2025. Rent reviews are annual fixed increases to 2.25% per annum. The rent is £205,049 per annum (£20.19 psf) with effect from the 1st November 2017. The property has been sublet to LeasePlan UK Limited (Company Number 01397939) from the 15th May 2018 expiring on 2nd July 2025 at a rent of £165,000 per annum with 12 months’ rent free. The under lease is subject to a break on the 15th May 2022. The under lease is subject to a 5 yearly Market Rent review pattern. LeasePlan are one of the world’s leading leasing companies, with 1.7 million vehicles in over 30 countries, and have been in business for over 50 years’ serving businesses and consumer clients.
Car Showroom Investment
Type: Office, Light Industrial, General Retail, Retail - Out of Town, Showroom, Other, Offices, Industrial, Retail, Other Property Types & Opportunities
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