Freehold Multi-Let Retail, Self Storage and Office Investment
Let to tenants including Siemens plc, Silver Blades Ice Rink Company (Cannock) Ltd and KW Cycles Ltd
Includes 13,792 sq ft of serviced self-storage accommodation
Prominently located in a highly visible position adjacent to the M6 Toll Motorway
Approximate site area of 2.1 hectares (5.1 acres)
On-site car parking for approximately 280 cars
Lot 24
Auction 27th March 2014
Rent £449,265 per Annum
Status Sold Post
Price
Sector Industrial, Warehouse
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
13 miles south of Stafford
17 miles north of Birmingham
130 miles north-west of London
Roads
M6 (Toll), M6, A5, A460, A34
Rail
Cannock Railway Station
Air
Birmingham International Airport (20 miles) East Midlands Airport (31 miles)
Situation
The property is situated in a highly visible position adjacent to the M6 Toll Motorway on the eastern side of Walkmill Lane, and immediately north of Lodge Lane which runs parallel to the motorway. Walkmill Lane connects with the A460 via the A5, connecting the property within minutes to junctions 7 and 8 of the M6 Toll and junctions 11 and 11a of the M6.
Tenure
Freehold.
Location
Miles
13 miles south of Stafford
17 miles north of Birmingham
130 miles north-west of London
Roads
M6 (Toll), M6, A5, A460, A34
Rail
Cannock Railway Station
Air
Birmingham International Airport (20 miles) East Midlands Airport (31 miles)
Situation
The property is situated in a highly visible position adjacent to the M6 Toll Motorway on the eastern side of Walkmill Lane, and immediately north of Lodge Lane which runs parallel to the motorway. Walkmill Lane connects with the A460 via the A5, connecting the property within minutes to junctions 7 and 8 of the M6 Toll and junctions 11 and 11a of the M6.
Tenure
Freehold.
Description
The property comprises a substantial mixed use site of approximately 2.1 hectares (5.1 acres). It has three terraces of single-storey modern, mixed use commercial units and a distinctive modern nine-storey office building which will be familiar with travellers on the M6 Toll. There are car parking spaces for approximately 280 cars across the site.
VAT
VAT is applicable to this lot.
Viewings
There will be block viewings for this property.
Interested parties must register their details with the Auctioneers and provide identification on site.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a substantial mixed use site of approximately 2.1 hectares (5.1 acres). It has three terraces of single-storey modern, mixed use commercial units and a distinctive modern nine-storey office building which will be familiar with travellers on the M6 Toll. There are car parking spaces for approximately 280 cars across the site.
VAT
VAT is applicable to this lot.
Viewings
There will be block viewings for this property.
Interested parties must register their details with the Auctioneers and provide identification on site.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/(Reversion)
Units 1-3
Retail/ Warehouse
1,030.57 sq m
(11,093 sq ft)
VACANT POSSESSION
Units 4 & 5
Retail
677.54 sq m
(7,293 sq ft)
KW CYCLES LTD
6 years from 19/11/2012 (1)
£32,500
19/11/2014 (18/11/2018)
Unit 6
Retail
340.95 sq m
(3,670 sq ft)
VACANT POSSESSION
Unit 7
Retail
341.05 sq m
(3,671 sq ft)
BTOWN BIKES LTD
6 years from 01/10/2013 (2)
£22,500
(30/09/2019)
Units 8-10
Retail
1,022.85 sq m (340.95 sq m each)
(11,010 sq ft)
SILVER BLADES ICE RINK COMPANY (CANNOCK) LTD
15 years from 09/11/2006
£72,000
09/11/2015 and 09/11/2018
Units 11 & 12
Children’s Playcentre & Quasar Arena
675.22 sq m
(7,268 sq ft)
JENNINGS ASSOCIATES LTD (3)
3 years from 01/03/2009 until 29/02/2012
£37,000
Holding Over
Units 14-16 195 separate storage units
Serviced Storage
1,281 sq m
(13,792 sq ft)
CHASE SPACE LTD t/a Chase Stores (4)
119 separate short term licences (5)
£105,765 gross annual equivalent as at 28/02/2014
Unit 17
Retail/Office
335.85 sq m
(3,615 sq ft)
VACANT
Lakeside Point
9 storey office development
1,271.84 sq m
(13,690 sq ft)
SIEMENS PLC (6)
9 years from 06/06/2005
£179,500
(30/06/2014)
Totals
6,976.87 sq m
(75,102 sq ft)
£449,265 (gross)
(1) As to Units 4 & 5, the lease provides a tenant option to break on 18/11/2015. (2) As to Unit 7, the lease provides a tenant option to break on 30/09/2016. (3) The tenant is currently paying 50% of the rent set out above and the seller is negotiating a new lease. (4) The lease to Chase Space Ltd t/a Chase Store will be surrendered on completion. (5) Please refer to the legal pack for more detailed information on the individual licencees terms and service charge costs attributable to the purchaser. (6) For the year ending 30/09/2014, Siemens plc reported a turnover of £2,664,590,000, pre-tax profits of £235,585,000 and a total net worth of £59,380,000. (Source: www.riskdisk.com 03/03/2014).
Contacts
Seller's Solicitors
Clarke Willmott Solicitors 138 Edmund Street Birmingham B3 2ES
