This property is no longer on the market
Industrial development
Property description & features
- Tenure: Freehold
Investment Opportunity
An investment opportunity to purchase the major part of an Industrial Estate lying between the busy Market Towns of Faringdon and Wantage with good proximity to Oxford and Swindon and it's large catchment area.
Extending to about 1.26 hectares (3.11 acres) the site comprises 7 existing industrial or storage buildings in a rural location close to the A420 and A417.
Extant planning consents exist to allow a further phase of redevelopment totalling about 27,000ft2 subject to demolition of some of the units.
Description
The trading estate is currently fully occupied although the owners will vacate the older units being Unit 1 and 2 at completion.
The modern units being 4, 5a, 6 & 7 were built between 1990 and 2000 and provide good quality industrial buildings. They mainly consist of steel frame and block/brick structures with profile sheet cladding and roofs.
Unit 3 is a post war concrete block building with adjoining Units 1 & 2 in the north west corner of the site being block built.
Tenure
The freehold of the property is available for sale subject to the leases set out below. Further details of the various leases are available from the agents. Please note Unit 5 and nearby land is owned by a third party and is not included in the sale.
Current passing rent for the Trading Estate is £70,000 with further potential to let Units 1 and 2 after completion.
UNIT 1 & 2 being 1,628ft2 NIA
Occupied by the vendor and vacant possession will be available on completion. No EPC available as exempt.
UNIT 3 being 1,811ft2 NIA
Let under a 5 year lease from 05/02/2020 at £10,000 per annum exclusive. There is a break clause at year 3 of the lease subject to 3 months' notice. There is a rent review on the 2nd anniversary of the lease. The lease is outside The Landlord and Tenant Act 1954 as amended. Current EPC is E rated
UNIT 4 being 2,243ft2 NIA
Let under a Licence terminating 07/07/2022 at £18,000 per annum exclusive. Current EPC is E rated. The occupier wishes to enter into a longer term lease.
UNIT 5a being 3,126ft2 NIA
Let under a Full Repairing and Insuring lease with service charge dated 29/10/2018 for 5 years at a current rent of £16,000 pa exclusive rising to £17,000 as from 01/11/2021. The lease is outside The Landlord and Tenant Act 1954 as amended. Current EPC is E rated.
UNIT 6 & 7 being 5,463ft2 NIA
Let under a 5 year lease dated 01/02/2017 at a current rent of £26,000 pa exclusive. Current EPC is an E rating.
Excluded Area
Unit 5 and a parcel of land to the east is excluded from the sale being owned by a third party.
Services
Mains electricity and mains water via a shared private pipe. Septic Tank drainage.
Mast Site
The site shown blue on the front page of this brochure has been sold on a long lease at a peppercorn rent terminating 6th December 2045. Details available from the selling agents.
Planning
A full review of the current planning consents for the site is available from the selling agents on request.
VAT
Please note VAT will be chargeable on the sale price and is presently charged by the owner on rents and licence fees collected.
Viewings
By appointment with the joint agents.
Marriotts Property LLP - Andrew Brown[use Contact Agent Button]
Green and Co. - Robin Heath[use Contact Agent Button]
Directions
From Faringdon or Wantage take the A417 towards Stanford In The Vale. South of the village take the turning to Baulking and follow the road around the village towards Uffington. 300m after crossing the Railway Bridge at Baulking turn right towards Fernham and the Trading Estate is on the right after about 500m.
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