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Units 7&8 Summerleys Business Centre,
Summerleys Road,
Princes Risborough,
Buckinghamshire,
HP27 9EQ

3814 to 9729 Sq Ft (354.32 to 903.82 Sq M)

Investment

UNDER OFFER

Features:

  • For Sale Freehold - Investment Opportunity
  • Two Fully Let Industrial Units
  • Units 7&8 Summerleys Business Centre, Princes Risborough
  • Attractive and well-established gated business park environment
  • New high specification units

Full Details

Location -

Princes Risborough is an attractive historic market town lying at the foot of the Chiltern Hills. The town has a range of shops including a Marks & Spencer food hall, WH Smith, Costa Coffee and a Tesco supermarket. Currently the population is 8,000. This is due to expand to the west with the addition of 2,500 homes, which is projected to take the town's population to 14,000/15,000 people.

Princes Risborough is 7.5 miles north east of Junction 6 of the M40, and 21 miles from the M25, with an excellent rail service to Birmingham, Oxford and London Marylebone.

Description -

For sale freehold. Two fully let industrial investments.

Two new high quality industrial/warehouse investment opportunities situated at the end of an attractive and well-established gated business park environment, between Ercol Furniture and Princes Risborough Railway Station.

The tenant, Niclen UK Ltd, are the UK arm of Niclen GmbH, who are a major event dry hire company supplying lighting, gantries, PA systems to festivals, film & tv production companies. They produced a gross profit of approximately €12.5m in 2018 with a net income of €2.2m. Accounts and leases are available on request.

Accommodation -

The premises comprise the following approximate Gross Internal Areas:

UNIT 7: 3,814 sq ft
Ground Floor Warehouse - 3,480 sq ft
First Floor Mezzanine Storage Area - 334 sq ft

UNIT 8: 5,915 sq ft
Ground Floor Warehouse - 4,882 sq ft
Ground Floor Office - 517 sq ft
First Floor Office - 517 sq ft

Car Parking -

Unit 7 - 8 spaces
Unit 8 - 13 spaces

Terms -

INVESTMENT SUMMARY:

Unit 7:
The property is let to Niclen UK Ltd for a term of 10 years from 10th January 2020 at a passing rent of £40,047 + VAT per annum, which equates to £10.50 per sq ft GIA. The rent will be subject to an upward only review at the 5th year. There is also a tenant only break clause at the end of the 5th year upon giving 6 months prior written notice.

Unit 8:
The property is let to Niclen UK Ltd for a term of 10 years from 10th January 2020 at a passing rent of £62,108 + VAT per annum, which equates to £10.50 per sq ft GIA. The rent will be subject to an upward only review at the 5th year. There is also a tenant only break clause at the end of the 5th year upon giving 6 months prior written notice.

Both leases are guaranteed by the parent company Niclen GmbH.

PROPOSAL:

Our client seeks £1,800,000 for their freehold interest. They may also consider selling the units individually. VAT will be applicable on the transaction. This equates to a net yield of 5.31% after normal purchasing costs.

Energy Performance Rating -

Unit 7 - C53
Unit 8 - B49

Viewing -

Strictly by appointment with Sole Agents:

Duncan Bailey Kennedy

Stephen Bailey-Kennedy / Adrian Dolan / Tom Good
steveb@dbk.co.uk / adriand@dbk.co.uk / tomg@dbk.co.uk
01494 450951

Property Contacts

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Tom Good

BA (Hons)

Surveyor

01494 450951

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Adrian Dolan

MA MRICS

Partner

01494 839913

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Stephen Bailey-Kennedy

FRICS

Consultant

01628 484343

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These pages are updated regularly, but please contact us if you have a specific enquiry, or for details of properties that have not yet made our website. These particulars are believed to be correct, but their accuracy is in no way guaranteed, neither do they form any part of any contract. They are issued on the understanding that all negotiations are conducted, subject to contract, through Duncan & Bailey-Kennedy. 'Finance Act 1989 - unless other stated, our prices and rents are quoted exclusive of VAT. Any intending purchasers or lessees must satisfy themselves independently as to the incidence of VAT in respect of any transaction.

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Duncan Bailey Kennedy LLP is a limited liability partnership incorporated and registered in England and Wales with registered number OC 417099 whose registered office is at The Mews, 20 Amersham Hill, High Wycombe, Bucks, HP13 6NZ

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