No longer on the market
This property is no longer on the market
MapIndustrial unit
Industrial unit
18500
Features and description
Description
The property comprises a detached industrial unit with two storey office building.
The industrial space has been recently refurbished and benefits from 4x roller shutter doors on an enclosed site with extensive yard and perimeter palisade fencing.
Location
The property is located on Hamstead Industrial Estate 4 miles North of Birmingham City Centre.
The site is strategically located approx. 1.8 miles from J7 of the M6 motorway and approx. 3 miles from J1 of the M5 motorway.
It is approx. 4.6 miles from J6 of the M6 via the A38(M).
• M6 J7 - Approx. 1.8 miles
• M5 J1 - Approx. 3 miles
• M6 J6 - Approx. 4.6 miles
• Birmingham City Centre - 4 miles
Tenure
The property is held freehold under Title Number MM56176.
Tenancy
The property is let to Steer Automotive Group Limited on a 10-year lease from 18th February 2022.
The rent is currently £100,000 per annum exclusive payable monthly and is reviewable 5 yearly to open market value.
Covenant
Steer Automotive Group is the UKs largest accident repair groups operating from 56 sites and with 1,200 employees.
Pricing
Offers in excess of £1,295,000 are sought, subject to contract reflecting NIY of 7.38% (when assuming purchasers’ costs of 4.69%) and a low underlying Capital Value of £67.50 ft2.
VAT
All prices quoted are exclusive of VAT.
However, it is envisaged the sale will be treated as a TOGC.
Energy Performance Certificate (EPC)
EPC: D / 84
Money Laundering
The money laundering regulations require identification checks are undertaken for all parties purchasing/leasing property.
Before a business relationship can be formed, we will request proof of identification for the purchasing/leasing entity.
Legal Costs
Each party are to be responsible for their own legal fees incurred during this transaction.
Viewings and Further Information
Viewings and further information via the selling agent Siddall Jones.
The property comprises a detached industrial unit with two storey office building.
The industrial space has been recently refurbished and benefits from 4x roller shutter doors on an enclosed site with extensive yard and perimeter palisade fencing.
Location
The property is located on Hamstead Industrial Estate 4 miles North of Birmingham City Centre.
The site is strategically located approx. 1.8 miles from J7 of the M6 motorway and approx. 3 miles from J1 of the M5 motorway.
It is approx. 4.6 miles from J6 of the M6 via the A38(M).
• M6 J7 - Approx. 1.8 miles
• M5 J1 - Approx. 3 miles
• M6 J6 - Approx. 4.6 miles
• Birmingham City Centre - 4 miles
Tenure
The property is held freehold under Title Number MM56176.
Tenancy
The property is let to Steer Automotive Group Limited on a 10-year lease from 18th February 2022.
The rent is currently £100,000 per annum exclusive payable monthly and is reviewable 5 yearly to open market value.
Covenant
Steer Automotive Group is the UKs largest accident repair groups operating from 56 sites and with 1,200 employees.
Pricing
Offers in excess of £1,295,000 are sought, subject to contract reflecting NIY of 7.38% (when assuming purchasers’ costs of 4.69%) and a low underlying Capital Value of £67.50 ft2.
VAT
All prices quoted are exclusive of VAT.
However, it is envisaged the sale will be treated as a TOGC.
Energy Performance Certificate (EPC)
EPC: D / 84
Money Laundering
The money laundering regulations require identification checks are undertaken for all parties purchasing/leasing property.
Before a business relationship can be formed, we will request proof of identification for the purchasing/leasing entity.
Legal Costs
Each party are to be responsible for their own legal fees incurred during this transaction.
Viewings and Further Information
Viewings and further information via the selling agent Siddall Jones.