Freehold Business Park Investment
Freehold Business Park Investment
The property is situated on Knight Road, Strood's main industrial and commercial area. The terrace forms part of Space Business Park which comprises 51 units over 1.39 acres. Other nearby occupiers include Royal Mail and Speedy Hire. The location benefits from quick access to the M2 Motorway (Junction 2).
Freehold.
The property is situated on Knight Road, Strood's main industrial and commercial area. The terrace forms part of Space Business Park which comprises 51 units over 1.39 acres. Other nearby occupiers include Royal Mail and Speedy Hire. The location benefits from quick access to the M2 Motorway (Junction 2).
Freehold.
The property comprises a terrace of 10 ground floor light industrial units with flexible mezzanine floors. Each unit has front elevation loading access with a dedicated parking space, access to shared visitor parking and the estate’s two amenity blocks. The property forms part of the larger Space Business Park. Further information about the scheme can be found at http://www.spacebc.com.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
The property comprises a terrace of 10 ground floor light industrial units with flexible mezzanine floors. Each unit has front elevation loading access with a dedicated parking space, access to shared visitor parking and the estate’s two amenity blocks. The property forms part of the larger Space Business Park. Further information about the scheme can be found at http://www.spacebc.com.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
| Unit | Floor | Floor Areas (Approx) | Tenant | Term | Rent/Licence Fee p.a.x. |
Reversion | |
|---|---|---|---|---|---|---|---|
| Unit 1 | Ground & Mezzanine |
39.76 sq m |
(428 sq ft) |
INDIVIDUAL t/a JLB Limited |
Licence to occupy from 27/01/2017 (1) |
£5,598.42 (2) | |
| Unit 2 | Ground & Mezzanine |
36.23 sq m |
(390 sq ft) |
INDIVIDUAL t/a Acute Elevators |
Licence to occupy from 11/02/2015 (1) |
£5,499.92 (2) | |
| Unit 3 | Ground & Mezzanine |
36.23 sq m |
(390 sq ft) |
THE SELLER by way of a leaseback t/a Space Business Park Managers Office |
3 years from completion (3) |
£5,558 (4) | November 2020 |
| Unit 4 | Ground & Mezzanine |
36.23 sq m |
(390 sq ft) |
ROCA TRADING | 3 years from 15/06/2017 (5) |
£5,557 (2) (6) | 14/06/2020 |
| Unit 5 | Ground & Mezzanine |
36.23 sq m |
(390 sq ft) |
INDIVIDUAL t/a EJS Floor Solutions |
Licence to occupy from 16/03/2016 (1) |
£5,732.36 (2) | |
| Unit 6 | Ground & Mezzanine |
36.23 sq m |
(390 sq ft) |
MODERN LIGHTING SOLUTIONS LTD |
3 years from 24/04/2017 |
£5,460 (2) (7) | 23/04/2020 |
| Unit 7 | Ground & Mezzanine |
36.23 sq m |
(390 sq ft) |
INDIVIDUAL | Licence to occupy from 26/08/2015 (1) |
£5,732.36 (2) | |
| Unit 8 | Ground & Mezzanine |
36.23 sq m |
(390 sq ft) |
PRESSFORD SAFETY SERVICES LIMITED |
Licence to occupy from 30/09/2015 (1) |
£5,732.36 (2) | |
| Unit 9 | Ground & Mezzanine |
36.23 sq m |
(390 sq ft) |
INDIVIDUAL t/a Southern Insulation (Kent) Limited |
Licence to occupy from 04/02/2013 (1) |
£5,378.36 (2) | |
| Unit 10 | Ground & Mezzanine |
36.23 sq m |
(390 sq ft) |
INDIVIDUAL t/a Pilon Limited |
Licence to occupy from 04/08/2017 (1) |
£5,732.36 (2) | |
| Total | 365.83 sq m |
(3,938 sq ft) |
£55,981.14 (2) | ||||
(1) The licenses provide 3% per annum rent increases and rolling mutual break option, subject to one month’s notice.
(2) The licence fees stated in the schedule above are the approximate net fees, i.e the contractual fee less the approximate service charge. The 2017 service charge equates to £3.52 psf.
(3) The lease provides a mutual rolling tenant break option subject to one year’s notice.
(4) The leases provide fixed rental increases to £5,753 p.a.x. in year 2 and £5,948 p.a.x. in year 3.
(5) There is an agreement in place which provides a tenant option to purchase the unit in the first 6 months of the term. Please refer to the legal pack for further information.
(6) The lease provides fixed rental increases to £5,752 p.a.x. in year 2 and £5,947 p.a.x. in year 3.
(7) The lease provides fixed rental increases to £5,655 p.a.x. in year 2 and £5,850 p.a.x. in year 3.
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