Freehold investment opportunity with long term development potential. 21,377 sq.ft. unit. 1.04 acre site. £81,000pa rent.
The property is located on the outskirts of Ashby de la Zouch in the heart of the East Midlands, and in the centre of the main cities of Derby, Leicester and Nottingham.
The property also benefits from being
-1.7 miles from A42
-5.5 from M42
-1.9 from A511
-9.9 miles from M1
-9.1 East Midlands Airport
The surrounding location comprises some industrial with majority of residential premises. There is long term development potential on the site subject to planning.
The property comprises a 1970's single storey, steel portal frame industrial unit. It has cavity brick and asbestos clad walls with a pitched asbestos sheet roof incorporating translucent lights.
Externally there is a large tarmac surfaced car park and access drive.
The site in total is 1.04 acres and could be suitable for future development subject to planning.
Internally the property splits into 4 units, the end bays and one central bay have a large concertina shutter door and the 3rd central bay having the office entrance. There are offices to the front of the unit.
The total Net Internal Area is approximately
1,986 sq m / 21,377 sq ft
This includes approximately 170.1 sq m / 1,837 of first floor offices.
The property is sold subject to existing tenancy. It is currently let to Infotec Ltd. Infotec have been in occupation for over 20 years. The current lease is a 16 year lease commencing in April 2019, terminating in 2035. The current rent is £75,000 per annum. The lease has rent review provisions every 3 years with the first being in April 2022 and the tenant benefits from a tenant only break clause every 2 years. Next break clause April 2023.
Infotec is one of the few UK display companies that designs, manufactures, tests and distributes its own products. For nearly 25 years Infotec has provided passenger information displays throughout the UK and the rest of the world including for metro systems in South America, light rail projects in the USA, on-vehicle systems in Canada and heavy rail throughout the UK.
There are various licences in place and the total rent roll for the site is £81,000 per annum.
The site is to be sold subject to an overage clause to benefit the current owner. The overage will reserve 30% of any uplift in value over 30 years attributable to any residential planning permission gained on the site.
Wayleaves, Easements and Rights of Way
There are rights of way over the entrance and car park area for the adjacent industrial units as well as the rear parking / garages for 2 - 26 Tamworth Road.
The property is sold subject to and with the benefit of any easement, wayleave and rights of way that may exist at the time of sale, whether disclosed or not.
VAT will be applicable on the sale price
Current EPC rating C (65)
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