Let to Travis Perkins (Properties) Ltd until November 2031 (No Breaks)
5 yearly upward only rent reviews to a minimum of 3% per annum compounded
Rent rising to a minimum of £99,072.72 in 2025 and £114,852.44 in 2030
Tenant option to renew for 25 years (2)
Gross Internal Floor Area of 1,445.40 sq m (15,558 sq ft)
Approx. site area of 0.69 Ha (1.71 Acres) with low 21% site cover
Established industrial estate with links to M1 (J26)
Future option to purchase Freehold for £1 (see legal pack)
Lot 36
Auction 21st September 2023
Rent £85,461 per Annum Exclusive
Status Sold
Price £1,220,000
Sector Trade Counter/Builders Merchants
Auction Venue Live Streamed Auction
On Behalf of a Major Investment Manager
Property Information
Location
Miles
8 miles north west of Nottingham, 8 miles north east of Derby
Roads
A610, M1 (J26)
Rail
Langley Mill Railway Station
Air
Birmingham Airport
Situation
The property is located on a prominent island site at the roundabout junction of A610, providing direct access to the M1 Motorway (Junction 26), within the well established Langley Bridge Industrial Estate. Nearby occupiers on the Estate include Warburtons, Lidl, Bidfood, KFC, McDonalds and B&Q.
Tenure
Long Leasehold. Held for a term of 200 years from 01/12/2006 at a peppercorn ground 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
8 miles north west of Nottingham, 8 miles north east of Derby
Roads
A610, M1 (J26)
Rail
Langley Mill Railway Station
Air
Birmingham Airport
Situation
The property is located on a prominent island site at the roundabout junction of A610, providing direct access to the M1 Motorway (Junction 26), within the well established Langley Bridge Industrial Estate. Nearby occupiers on the Estate include Warburtons, Lidl, Bidfood, KFC, McDonalds and B&Q.
Tenure
Long Leasehold. Held for a term of 200 years from 01/12/2006 at a peppercorn ground 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.
Description
The property comprises a ground floor trade counter / warehouse plus office and yard areas. The property has a total floor area of 1,445.40 sq m (15,558 sq ft) on a site area of 0.69 Ha (1.71 Acres), benefitting from a low site coverage of 21%.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor trade counter / warehouse plus office and yard areas. The property has a total floor area of 1,445.40 sq m (15,558 sq ft) on a site area of 0.69 Ha (1.71 Acres), benefitting from a low site coverage of 21%.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
25 years from 01/12/2006 until 30/11/2031 on a full repairing and insuring lease (2) (4)
£85,461
01/12/2025 01/12/2030 (3)
Total
1,445.40
(15,558)
£85,461
(1) For the year ending 31/12/2021 Travis Perkins (Properties) Ltd reported a Turnover of £47,500,000, a Pre-Tax Profit of £23,800,000 and a Net Worth of £112,900,000 (NorthRow 25/08/2023). Travis Perkins is the UK's largest distributor of building materials with a network of over 500 branches and has been helping build Britain for over 200 years (www.travisperkinsplc.co.uk). (2) The lease provides the tenant an option to renew the lease on expiry for a further 25 years at market rent, but otherwise on identical lease terms including the rent review basis. Full information is available within the legal pack. (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. (4) The lease is subject to a Schedule of Condition.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
