Description -

The premise comprise a detached industrial unit which is estimated to have been constructed in the 1980's. The warehouse has internal eaves height of approximately six metres. The current tenants have undertaken significant alterations to the property, including mezzanine flooring and integral offices. We are advised that at the commencement of the tenants occupation the premises were in shell condition.

There is car parking to the front of the unit. The tenant has erected two storage buildings to the front and side which are also tenants improvements. The tenant also occupies Unit 1-3 and there is a walkway between the units documented by way of a licence for alterations.

INVESTMENT SUMMARY
The premises are currently let to VWS (UK) Ltd for a term of 10 years from 16th
February 2017 to 15th February 2027 at a passing rent of £95,000 per annum on a full repair and insuring basis. The lease is inside Part II of the 1954 Landlord & Tenant Act.

Accommodation -

The premises comprise the following approximate Gross Internal Areas excluding mezzanine floor and storage buildings:

Warehouse - 930.33 m2 / 10,014 sq ft

Terms -

Our client seeks £1,500,000 for their freehold interest.

VAT is not 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 £204,000.
Rate in the £ for 24/25 is 54.6p. This RV includes Unit 1-3 that the tenant also occupies.

Energy Performance Rating -

TBC