Let to Co-Operative Insurance Society Ltd for a further 959 years
Site area of approximately 0.56 hectares (1.40 acres)
Ransom strip benefiting from 281 metres of frontage to the Grand Union Canal
Popular West London suburb with excellent transport links
Lot 10
Auction 27th May 2010
Rent £58,000 per Annum
Status Withdrawn Post
Price
Sector Ground Rent
Auction Venue Millennium Hotel 39-44 Grosvenor Square Mayfair London W1K 2HP
Property Information
Location
Estimated District Population
318,000
Miles
?11 miles from Central London
3 miles west of Ealing
Roads
?M4, A40, M25, M40
Rail
?Southall Railway Station
Air
Heathrow Airport
Situation
The property, forming part of the established Brook Industrial Estate, is situated adjacent to and west of the Grand Union Canal to the west of Bankside and immediately south of the Uxbridge Road (A4020) and The Broadway. Access is via Uxbridge Road, immediately south-east of its junction with Delamere Road.Nearby occupiers include Iron Mountain, Shurgard Self Storage and Fiat while Curry's, Halfords, Dreams and Harvey's are all based in Hayes Bridge Retail Park immediately to the west of the property.
Tenure
Freehold.
Location
Estimated District Population
318,000
Miles
?11 miles from Central London
3 miles west of Ealing
Roads
?M4, A40, M25, M40
Rail
?Southall Railway Station
Air
Heathrow Airport
Situation
The property, forming part of the established Brook Industrial Estate, is situated adjacent to and west of the Grand Union Canal to the west of Bankside and immediately south of the Uxbridge Road (A4020) and The Broadway. Access is via Uxbridge Road, immediately south-east of its junction with Delamere Road.Nearby occupiers include Iron Mountain, Shurgard Self Storage and Fiat while Curry's, Halfords, Dreams and Harvey's are all based in Hayes Bridge Retail Park immediately to the west of the property.
Tenure
Freehold.
Description
The property comprises a piece of LAND of approximately 0.56 hectares (1.40 acres) benefiting from 281 metres of frontage to the Grand Union Canal. Adjacent to the property is a large warehouse occupied by Iron Mountain, the demise of the subject property forms part of the warehouse site as well as providing the main access to the rear of the warehouse. VATVAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a piece of LAND of approximately 0.56 hectares (1.40 acres) benefiting from 281 metres of frontage to the Grand Union Canal. Adjacent to the property is a large warehouse occupied by Iron Mountain, the demise of the subject property forms part of the warehouse site as well as providing the main access to the rear of the warehouse. VATVAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Use
Hectares
Acres
Tenant
Term
Rent p.a.x
Review
Land
0.56
1.40
CO-OPERATIVE INSURANCE SOCIETY LTD (1)
999 years from 25/12/1970
£58,000
25/12/2027 and 21 yearly (2)
Totals
0.56
1.40
£58,000
(1) The Co-Operative Insurance Society (CIS) forms part of the Co-Operative Group, the UK's largest consumer co-operative. Co-Operative Insurance is a major life assurance and general insurance business with over 5 million customers. (Source: www.co-operativeinsurance.co.uk) For the year ending 12th January 2008, The Co-Operative Insurance Society Ltd reported a turnover of ?534,900,000, pre-tax profits of ?42,700,000 and a net worth of ?340,100,000. (Source: Experian Report as published by OneSource 12/10/2009). (2) The rent is reviewed to open market ground rental value.
Contacts
Seller's Solicitors
Richard Pearlman & Co 27 Phipp Street London EC2A 4NP
