Substantial modern industrial unit with ancillary office areas totalling 8,049 sq ft (748 sq m)
Units 5 & 6 are being offered as Lot 17
Lot 47
Auction 26th May 2011
Rent £58,355 per Annum Exclusive
Status Sold Post
Price
Sector Office
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
Peterborough 34 miles, Bedford 28 miles, London 60 miles
Roads
M11, A14, A1(M)
Rail
Cambridge Rail, Huntingdon Rail
Air
Stansted Airport
Situation
The property is strategically situated adjacent to the major A14 trunk road which connects the M11 and A1(M) as well as Huntingdon and Cambridge.
The property is prominently situated on the entrance to the business park which was developed in 2008. Nearby occupiers on the estate include Aixtron, Crucial Cuisine and Graham The Plumbers Merchant.
Tenure
Virtual Freehold. Held for a term of 999 years from completion at a peppercorn rent The buyer will benefit from a share in the management company that manages Buckingway Business Park
Location
Miles
Peterborough 34 miles, Bedford 28 miles, London 60 miles
Roads
M11, A14, A1(M)
Rail
Cambridge Rail, Huntingdon Rail
Air
Stansted Airport
Situation
The property is strategically situated adjacent to the major A14 trunk road which connects the M11 and A1(M) as well as Huntingdon and Cambridge.
The property is prominently situated on the entrance to the business park which was developed in 2008. Nearby occupiers on the estate include Aixtron, Crucial Cuisine and Graham The Plumbers Merchant.
Tenure
Virtual Freehold. Held for a term of 999 years from completion at a peppercorn rent The buyer will benefit from a share in the management company that manages Buckingway Business Park
Description
The property comprises a prominent industrial unit which benefits from an eaves height of 6.5 metres (21 ft), and integral office accommodation and 10 car parking spaces in front of the property and the right to use 6 car parking spaces in front of Unit 3. The property also benefits from a vehicle access loading door.
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 a prominent industrial unit which benefits from an eaves height of 6.5 metres (21 ft), and integral office accommodation and 10 car parking spaces in front of the property and the right to use 6 car parking spaces in front of Unit 3. The property also benefits from a vehicle access loading door.
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 First
Industrial
540 sq m 208 sq m
(5,816 sq ft) (2,233 sq ft)
DATE CONVERSIONS SYSTEMS LIMITED (1)
15 years from 01/04/2010 until 31/03/2025 on a full repairing and insuring lease (2) (3)
£58,355
01/04/2015 and 5 yearly
Totals
748 sq m
(8,049 sq ft)
£58,355
(1) For the year ending 30th June 2009 Data Conversion Systems Limited reported total current assets of £1,193,000. (2) The tenant has the option to determine the lease on the 10th anniversary of the term. (3) The lease provides for a 24 month rent free period from the commencement date of the lease. The seller will pay the buyer the rent that would have been payable in the absence of the rent free provision from completion of the sale to the end of the rent free period. Therefore the property will produce an income of £58,355 per annum exclusive from the completion of the sale. There will be an additional 3 months rent free period from 1st April 2020 in the event that the tenant does not exercise their option to determine the lease. (4) The tenant has an option to purchase the Virtual Freehold interest of the property for £675,000 within the first two years of the term.
