Let to Speedy Hire Centres Limited (guaranteed by Speedy Hire plc) until 2023 (subject to option)
Strategic and established trade counter location
Approximately 486.6 sq m (5,238 sq ft) on a site of 0.16 hectares (0.4 acres)
Nearby occupiers include Jaeger Outlet Store, Central Tyre, Booker and B&Q
2017 Rent Review linked to Retail Price Index (RPI)
Lot 22
Auction 23rd October 2014
Rent £18,372 per Annum Exclusive
Status Withdrawn Post
Price
Sector Trade Counter/Builders Merchants
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
39 miles west of Norwich
32 miles north-east of Peterborough
Roads
A47, A10, A149
Rail
Kings Lynn Railway Station
Air
Norwich Airport
Situation
The property is situated within the popular and busy Hardwick Industrial Estate, ½ a mile south of the town centre and ½ a mile from the A47 on the western site of Paxman Road, just off Hardwick Road. Nearby occupiers include Jaeger Outlet Store, Central Tyre, Booker and B&Q.
Tenure
Freehold.
Location
Miles
39 miles west of Norwich
32 miles north-east of Peterborough
Roads
A47, A10, A149
Rail
Kings Lynn Railway Station
Air
Norwich Airport
Situation
The property is situated within the popular and busy Hardwick Industrial Estate, ½ a mile south of the town centre and ½ a mile from the A47 on the western site of Paxman Road, just off Hardwick Road. Nearby occupiers include Jaeger Outlet Store, Central Tyre, Booker and B&Q.
Tenure
Freehold.
Description
The property comprises ground floor trade counter, office and ancillary accommodation with car parking for approximately 7 cars. The property benefits from an open storage yard upon which there are also electrical utility structures.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises ground floor trade counter, office and ancillary accommodation with car parking for approximately 7 cars. The property benefits from an open storage yard upon which there are also electrical utility structures.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground
Industrial
486.6 sq m
(5,238 sq ft)
SPEEDY HIRE CENTRES LIMITED guaranteed by Speedy Hire plc (1)
15 years from 15/01/2008 until 2023 on a full repairing and insuring lease (2)
£18,372.63
15/01/2017 & 5 yearly
Totals
486.6 sq m
(5,238 sq ft)
£18,372.63
(1) For the year ending 31st March 2014, Speedy Hire plc reported pre-tax profits of £7,000,000 and a total net worth of £188,000,000. (Source:riskdisk.com 18/09/2014) (2)The lease provides for a tenant option to determine on 15th January 2020.
