Warehouse for sale
Property description & features
- Tenure: Freehold
- Let to BBL Gym Ltd
- Rental income of £53,000 per annum exclusive
- Net initial yield of 5.28% assuming purchasers cost of 5.69%
- Upward only open market rent reviews at Yrs 3 & 6
- 10 year FRI lease from 20th March 2024 with break option upon 5th anniversary
- VAT elected
The premises comprises two brand new units which have been built in accordance with the following brief specification :
- Brick outer, blockwork inner wall construction
- Steel portal frame
- Steel cladding to upper elevations
- Internal eaves height of 6.27m
- Concrete floor
- Timber decked steel framed mezzanine
- LED lighting and 3 Phase electricity
- Electric roller shutter door
- Unisex disabled W.C.
- Allocated parking with 1 x electric car charging point per unit
- Roof top PV panels
Viewings
Strictly by appointment through the sole agent.
Location
Churchill Business Park is located approximately 3 miles from the A31 and is accessed from Provence Drive via the A341 Magna Road, which connects to the A349. The A349 leads to the A31 which provides connections to the M27 and M3 to the northeast and the A35 to the west.
Legal Costs
Each party to be responsible for their own legal costs incurred in the transaction.
VAT
The premises is elected for VAT and it is anticipated that the sale will be dealt with as a transfer of a going concern.
AML
In accordance with Anti-Money Laundering requirements, two forms of identification will be required from the tenant and any beneficial owner together with evidence/proof identifying the source of funds being relied upon to complete the transaction.
Tenancy
The premises are let to BBL Gym Ltd (Company no: 15213152) on a 10 year FRI lease granted inside the Landlord & Tenant Act 1954 from 20th March 2024 with a tenant only break option upon the 5th anniversary of the term. The rent commencement date is 20th September 2024. There are upward only open market rent reviews on the 3rd and 6th anniversaries. The tenant has paid a 6 months rent deposit.
Tenure
For Sale virtual freehold; a 999 year lease subject to a peppercorn rental and the benefit of the occupational lease.
Property information from this agent
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Broadband availability and predicted speed
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Mobile phone signal availability and predicted strength
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Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
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Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
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