Property Auctions 18/Oct/2018 | 1 Pate Road, Leicester Road Industrial Estate, Melton Mowbray, LE13 0DG

Freehold Trade Counter Investment

Prominent roadside location
Let to Travis Perkins (Properties) Ltd on a lease expiring 2027 (NO BREAKS)
Site area approximately 1.88 acres
Close to the proposed Melton Mowbray southern motorway bypass (1)

Lot 9
Auction 18th October 2018
Rent £65,000 per Annum Exclusive
Status Sold
Price £1,400,000
Sector
Trade Counter/Builders Merchants
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 15 miles north-east of Leicester, 15 miles east of Loughborough, 19 miles south-east of Nottingham
Roads: M1, A46, A606, A607
Rail: Melton Mowbray Railway Station
Air: East Midlands Airport

Situation

Melton Mowbray is a prosperous and historic market town located 15 miles east of Leicester, 15 miles east of Loughborough and 19 miles south-east of Nottingham. The property is located on the Leicester Road Industrial Estate, 1 mile to the west of Melton Mowbray town centre. The property is located at the junction of Leicester Road (A607), Beler Way (the arterial road of the Estate) and Pate Road. (1) The proposed Melton Mowbray southern bypass is scheduled to be located 700 metres to the west of the property. The new £63.5m bypass will pave the way for 6,000 jobs and 4,500 homes in and around Melton Mowbray by 2036. Please see www.melton.gov.uk. Occupiers close by include Samworth Brothers, Sharmans, Brooksby, Witham Garage and Aston Vauxhall, amongst a number of local traders.

Tenure

Freehold.

Location

Miles: 15 miles north-east of Leicester, 15 miles east of Loughborough, 19 miles south-east of Nottingham
Roads: M1, A46, A606, A607
Rail: Melton Mowbray Railway Station
Air: East Midlands Airport

Situation

Melton Mowbray is a prosperous and historic market town located 15 miles east of Leicester, 15 miles east of Loughborough and 19 miles south-east of Nottingham. The property is located on the Leicester Road Industrial Estate, 1 mile to the west of Melton Mowbray town centre. The property is located at the junction of Leicester Road (A607), Beler Way (the arterial road of the Estate) and Pate Road. (1) The proposed Melton Mowbray southern bypass is scheduled to be located 700 metres to the west of the property. The new £63.5m bypass will pave the way for 6,000 jobs and 4,500 homes in and around Melton Mowbray by 2036. Please see www.melton.gov.uk. Occupiers close by include Samworth Brothers, Sharmans, Brooksby, Witham Garage and Aston Vauxhall, amongst a number of local traders.

Tenure

Freehold.

Description

The property, on a site of 1.88 acres, comprises a trade counter with on-site parking and a fenced yard. The property comprises two trade counter sales areas trading as Travis Perkins and City Plumbing, together with warehouse accommodation. The property has four roller shutter doors.

VAT

VAT is applicable to this lot.

EPC

C

Description

The property, on a site of 1.88 acres, comprises a trade counter with on-site parking and a fenced yard. The property comprises two trade counter sales areas trading as Travis Perkins and City Plumbing, together with warehouse accommodation. The property has four roller shutter doors.

VAT

VAT is applicable to this lot.

EPC

C

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground Mezzanine	Trade Counter/ Warehouse Storage	710 sq m 123 sq m	(7,642 sq ft) (1,324 sq ft)	TRAVIS PERKINS (PROPERTIES) LIMITED (2)	15 years from 28th September 2012 on a full repairing and insuring lease	£65,000 (3)	2022 (3)
Total		833 sq m	(8,966 sq ft)			£65,000

(2) For the year ended 31st December 2017, Travis Perkins (Properties) Limited reported a turnover of £87,300,000, pre-tax profits of £68,900,000 and a total net worth of £332,700,000 (Source: Experian 16/08/2018). "We are a proud British company with 20+ industry-leading building and construction businesses, 2,000+ outlets and more than 28,000 employees" (Source: www.travisperkins.co.uk ).
(3) At the 2017 rent review, the rent increased from £40,000 and the 2022 rent review is capped to £87,000.