The premises provide a 1990s designed purpose built semi-detached industrial unit being of steel portal framed construction incorporating part brick and blockwork detailed elevations with a further metal plastic coated cladding on both walls and roof, the latter incorporating 10% translucent light panels.
The minimum eaves height is approximately 17ft 3ins (5.25m) with a concrete floor. There are two electrically operated roller shutter access doors. Outside, there is an enclosed yard and car park with gated access, together with a loading canopy of approx 2,279 sq ft (211 sq m).
All measurements are approximate:
Ground Floor
Warehouse 9,042 sq ft ( 840.0 sq m)
Reception & stores 2,411 sq ft ( 220.9 sq m)
First Floor
Mezzanine 2,583 sq ft ( 240.0 sq m)
Office & stores 2,411 sq ft ( 220.9 sq m)
Total Area 16,447 sq ft (1,527.9 sq m)
Outside
Loading Canopy 2,279 sq ft (211.7 sq m)
Secured Yard Area 8,815 sq ft (818.9 sq m)
The property is let to Gentili United Kingdom Ltd on a 5 year lease from 1st October, 2024 at an initial rent of £70,835 per annum. The rent increases to £85,000 pa with effect from 1st October, 2025. The vendor proposes to top up the first years rent to be in line with the second years' figure. The lease is contracted outside the security provisions of The Landlord and Tenant Act 1954 Part II and the repairing obligations are limited by a photographic schedule of condition. There is a rent review at the end of the third year of the term and the tenant has the option to terminate the lease at the end of the second year of the term subject to 3 months prior written notice. A copy of the lease is available for inspection at the agent's office.
We are instructed to seek offers in the region of £1,250,000 (One Million Two Hundred & Fifty Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this price would reflect a Net Initial Yield of 6.4% assuming purchaser's costs of 6.3%.
EPC Rating: E-102
