Let to The Trustees of The Imperial War Museum until November 2060 - see footnote (1)
Specialist storage facility required by The Imperial War Museum for historic film archive
Comprises eleven film storage units (13,836 sq ft) on a 12 acre (4.85 hectare) site
5 yearly upward only RPI Rent Reviews
Comprehensive reinstatement requirement for tenant to reinstate to agricultural use if requested by the landlord
3 miles south of Imperial War Museum (Duxford); 6 miles north of Saffron Walden
Lot 20
Auction 4th April 2019
Rent £37,696 per Annum Exclusive
Status Sold
Price £630,000
Sector Development
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
6 miles north of Saffron Walden
12 miles south of Cambridge
18 miles north of Stansted Airport
Roads
A11, M11 (J10)
Air
London Stansted
Situation
The property is located approximately three miles south of the Imperial War Museum Duxford, 6 miles north of Saffron Walden, 12 miles south of Cambridge and 18 miles north of Stansted Airport, with excellent road connections nearby to Junction 10 of the M11.
Tenure
Freehold.
Location
Miles
6 miles north of Saffron Walden
12 miles south of Cambridge
18 miles north of Stansted Airport
Roads
A11, M11 (J10)
Air
London Stansted
Situation
The property is located approximately three miles south of the Imperial War Museum Duxford, 6 miles north of Saffron Walden, 12 miles south of Cambridge and 18 miles north of Stansted Airport, with excellent road connections nearby to Junction 10 of the M11.
Tenure
Freehold.
Description
The Imperial War Museum film storage facility is a major national, educational and historical resource and contains original source film material from contemporary history. The museum’s film collection includes reels of original nitrate film dating from 1901 until 1951. The property comprises eleven standalone purpose built, temperature controlled, single storey concrete pavilions. There are ancillary buildings and services supplying the stores. The site is securely fenced, landscaped and is kept under 24 hour surveillance. We understand that the facility originally cost in excess of £4 million to construct.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The Imperial War Museum film storage facility is a major national, educational and historical resource and contains original source film material from contemporary history. The museum’s film collection includes reels of original nitrate film dating from 1901 until 1951. The property comprises eleven standalone purpose built, temperature controlled, single storey concrete pavilions. There are ancillary buildings and services supplying the stores. The site is securely fenced, landscaped and is kept under 24 hour surveillance. We understand that the facility originally cost in excess of £4 million to construct.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Site Area
Unit
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
12 acres (4.85 hectares)
Units 1-11
Film Storage
1,285.90 sq m
(13,836 sq ft)
THE TRUSTEES OF THE IMPERIAL WAR MUSEUM
60 years from 27/11/2000 on a full repairing and insuring lease until 26/11/2060 (1)
£37,696
27/11/2020 and five yearly thereafter (2)
Total
1,285.90 sq m
(13,836 sq ft)
£37,696
(1) The lease is subject to a tenant option to determine on 27/11/2020 or any time thereafter, subject to 12 months’ prior notice. (2) The rent is reviewed every 5 years, upward only to RPI.
