Travis Perkins 3 Station Road Williton Taunton TA4 4RL

Travis Perkins
3 Station Road
Williton
Taunton
TA4 4RL

Well Located Trade Counter Investment

Let to Travis Perkins (Properties) Limited until November 2031 (no breaks)
5 yearly upward only rent reviews linked to a minimum of 3% per annum compounded
Rent rising to a minimum of £80,235.68 in 2022 and £93,015.14 in 2027
Approximate site area of 0.95 acres (0.38 hectares)
Future option to purchase freehold for £1 (see legal pack)

Lot
32
Auction
11th July 2019
Rent
£69,212 per Annum Exclusive
Status
Sold Post
Price
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN
On behalf of a Major Investment Manager

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Well Located Trade Counter Investment

Let to Travis Perkins (Properties) Limited until November 2031 (no breaks)
5 yearly upward only rent reviews linked to a minimum of 3% per annum compounded
Rent rising to a minimum of £80,235.68 in 2022 and £93,015.14 in 2027
Approximate site area of 0.95 acres (0.38 hectares)
Future option to purchase freehold for £1 (see legal pack)

Lot 32
Auction 11th July 2019
Rent £69,212 per Annum Exclusive
Status Sold Post
Price
Sector
Trade Counter/Builders Merchants
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN
On behalf of a Major Investment Manager

Property Information

Location

Miles: 14 miles north-west of Taunton; 18 miles west of Bridgwater; 38 miles north-east of Exeter
Roads: A39, A358, M5 (junction 25)
Rail
Air: Exeter Airport, Bristol Airport

Situation

Williton is a West Somerset town located approximately 14 miles north-west of Taunton at the junction of the A39, A358 and B1391. The property is located on Station Road, adjacent to Williton Railway Station (a heritage railway). The property forms part of the established Williton Industrial Estate with nearby occupiers including Deso Engineering, Williton Auto Services and Agritrac.

Tenure

Long Leasehold. Held for a term of 200 years from 01/12/2006 at a peppercorn rent. The lease provides an option to purchase the Freehold for £1 + VAT, subject to conditions being satisfied. Please refer to the legal pack for further information.

Location

Miles: 14 miles north-west of Taunton; 18 miles west of Bridgwater; 38 miles north-east of Exeter
Roads: A39, A358, M5 (junction 25)
Rail
Air: Exeter Airport, Bristol Airport

Situation

Tenure

Description

The property comprises two standalone units, one currently arranged to provide a ground floor trade counter unit with ancillary office accommodation on part ground and first floor and the other providing a ground floor warehouse unit with mezzanine storage. The warehouse benefits from roller shutter doors and a large storage yard with customer parking. The property has an approximate site area of 0.95 acres (0.38 hectares) and a low site cover of approximately 29%.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

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	Gross Internal Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground Ground First Ground Mezzanine	Trade Counter Office Offices Warehouse Storage	477.90 sq m 45.40 sq m 220.00 sq m 590.60 sq m 80.10 sq m	(5,144 sq ft) (489 sq ft) (2,368 sq ft) (6,357 sq ft) (862 sq ft)	TRAVIS PERKINS (PROPERTIES) LIMITED (1)	25 years from 01/12/2006 until 30/11/2031 on a full repairing and insuring lease (2)	£69,212	01/12/2022 and five yearly (3)
Total		1,414.00 sq m	(15,220 sq ft)			£69,212 rising to a minimum of £80,235.68 in 2022 and £93,015.14 in 2027

(1) For the year ending 31st December 2018, Travis Perkins (Properties) Limited reported a turnover of £92,200,000, pre-tax profits of £52,200,000 and a total net worth of £277,100,000 (Source: beta.companieshouse.gov.uk 31/05/2019). Travis Perkins is the UK's largest distributor of building materials and has been helping build Britain for over 200 years. With 20+ businesses in the Group, they have grown to approximately 29,000+ employees across more than 2,000 branches, stores and sites around the UK
(Source: www.travisperkinsplc.co.uk 05/06/2019).
(2) The lease is subject to a schedule of condition.
(3) The rent reviews are upwards only to the higher of two thirds of Market Rent (as defined in the lease) or the annual rent payable increased by 3% per annum compounded annually. For further information please refer to the lease available in the legal pack.