Let to Travis Perkins (Properties) Ltd until November 2031 (No Breaks)
The entire property is sublet to Cozy Travel Ltd until 30/10/2031
5 yearly upward only rent reviews to a minimum of 3% per annum compounded
Rent rising to a minimum of £97,666.52 in 2027
Tenant option to renew for 25 years (2)
Gross Internal Floor Area of 636.50 sq m (6,851 sq ft)
Approx. site area of 0.4 Ha (0.99 Acres)
Established industrial estate location
Future option to purchase Freehold for £1 (see legal pack)
Lot 32
Auction 2nd November 2023
Rent £84,248 per Annum Exclusive
Status Sold
Price £1,250,000
Sector Industrial, Warehouse
Auction Venue Live Streamed Auction
On Behalf of a Major Investment Manager
Property Information
Location
lMiles
7 miles east of Bedford, 18 miles west of Cambridge, 42 miles north of London
Roads
A1, A1(M), A428
Rail
Sandy Railway Station (Thameslink)
Air
London Luton Airport, London Stansted Airport
Situation
Sandy is an attractive and popular Bedfordshire market town. The property is prominently located on Gateshead Close, just off Sunderland Road within a busy and established industrial location.
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
lMiles
7 miles east of Bedford, 18 miles west of Cambridge, 42 miles north of London
Roads
A1, A1(M), A428
Rail
Sandy Railway Station (Thameslink)
Air
London Luton Airport, London Stansted Airport
Situation
Sandy is an attractive and popular Bedfordshire market town. The property is prominently located on Gateshead Close, just off Sunderland Road within a busy and established industrial location.
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 warehouse with yard areas and two roller shutter doors. The property has a total floor area of 636.50 sq m (6,851 sq ft) upon a site area of 0.4 Ha (0.99 Acres) with a low site coverage of 12%.
The entire property is currently sublet to Cozy Travel Ltd until 30/10/2031.
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 warehouse with yard areas and two roller shutter doors. The property has a total floor area of 636.50 sq m (6,851 sq ft) upon a site area of 0.4 Ha (0.99 Acres) with a low site coverage of 12%.
The entire property is currently sublet to Cozy Travel Ltd until 30/10/2031.
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 (subject to a schedule of condition) (3)
£84,248
01/12/2027 (4)
Total
636.50
(6,851)
£84,248
(1) Travis Perkins (Properties) Ltd is wholly owned by Travis Perkins PLC. 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 entire property has been sublet to Cozy Travel Ltd until 30/10/2031. (3) 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. (4) 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.
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.
