Units 2 & 3 Blenheim Court Peppercorn Close Peterborough Cambridgeshire PE1 2DU

Units 2 & 3 Blenheim Court
Peppercorn Close
Peterborough
Cambridgeshire
PE1 2DU

Freehold Office Investment

Entirely let to Rupen Estates Limited until January 2036 (subject to options)
Approximately 663.30 sq m (7,140 sq ft) with car parking
Nearby occupiers include Secretary of State for the Environment, Axiom Housing Association and Barhale Construction Plc
Attractive and affluent Cathedral City
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
68
Auction
13th October 2016
Rent
£42,500 per Annum Exclusive
Status
Sold
Price
£440,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG
On Behalf of a Major Fund Manager

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Freehold Office Investment

Entirely let to Rupen Estates Limited until January 2036 (subject to options)
Approximately 663.30 sq m (7,140 sq ft) with car parking
Nearby occupiers include Secretary of State for the Environment, Axiom Housing Association and Barhale Construction Plc
Attractive and affluent Cathedral City
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 68
Auction 13th October 2016
Rent £42,500 per Annum Exclusive
Status Sold
Price £440,000
Sector
Office
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG
On Behalf of a Major Fund Manager

Property Information

Location

Miles: 35 miles north-west of Cambridge, 41 miles north-east of Northampton
Roads: A15, A47, A1(M)
Rail: Peterborough Railway Station
Air: Birmingham International Airport, Luton Airport

Situation

The property is situated on Peppercorn Close, off Bourges Boulevard (A15) just north of its junction with Maskew Avenue, approximately one mile north-west of Peterborough City Centre, in an established industrial and office area. Nearby occupiers include Axiom Housing Association, Secretary of State for the Environment and Barhale Construction Plc. Maskew Retail Park and Boulevard Retail Park are located on nearby Maskew Avenue with occupiers including Argos, Matalan, B&Q and Halfords.

Tenure

Freehold.

Location

Miles: 35 miles north-west of Cambridge, 41 miles north-east of Northampton
Roads: A15, A47, A1(M)
Rail: Peterborough Railway Station
Air: Birmingham International Airport, Luton Airport

Situation

Tenure

Freehold.

Description

The property comprises two self-contained office buildings arranged on the ground and first floors with the benefit of on-site parking. Blenheim Court comprises a development of 13 office buildings with a total of 70 car parking spaces.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
2 3	Ground First Ground First	Offices Offices Offices Offices	157.00 sq m 157.93 sq m 168.61 sq m 179.76 sq m	(1,690 sq ft) (1,700 sq ft) (1,815 sq ft) (1,935 sq ft)	RUPEN ESTATES LIMITED	25 years from 01/02/2011 until 31/01/2036 (1) on a full repairing and insuring lease	£42,500 (2)	01/02/2022 and five yearly
Totals			663.30 sq m	(7,140 sq ft)			£42,500 (2)

(1) The lease is subject to a tenant options to determine on 31/01/2021, 31/01/2026 and 31/01/2031.
(2) The current contractual rent is £34,000 per annum until 31/01/2017 with a fixed rental increase to £37,500 per annum on 01/02/2017 rising to £40,000 per annum on 01/02/2018 and £42,500 per annum on 01/02/2020. The seller has agreed to adjust the completion monies so that the property effectively produces £42,500 per annum from completion of the sale.