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 £80,659.97 in 2025 and £93,507.01 in 2030
Gross Internal Floor Area of 843.40 sq. m. (9,078 sq. ft.)
Approx. site area of 0.30 Ha (0.75 Acres) providing a low site coverage of 25%
Established industrial estate location
Future option to purchase Freehold for £1 (see legal pack)
Lot 8
Auction 13th December 2023
Rent £69,578 per Annum Exclusive
Status Sold
Price £1,105,000
Sector Trade Counter
Auction Venue Live Streamed Auction
On Behalf of a Major Investment Manager
Property Information
Location
Miles
30 miles north of Peterborough, 30 miles west of Nottingham, 16 miles south of Lincoln
Roads
A15, A17, A1(M)
Rail
Sleaford Railway Station
Air
East Midlands Airport
Situation
Sleaford is an attractive market town in Lincolnshire. The property is situated in the busy and established Oakside Park Industrial Estate, just north east of Sleaford town centre. Nearby occupiers include Screwfix, Kwik Fit, Howdens, Better leisure centre and Toolstation.
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
30 miles north of Peterborough, 30 miles west of Nottingham, 16 miles south of Lincoln
Roads
A15, A17, A1(M)
Rail
Sleaford Railway Station
Air
East Midlands Airport
Situation
Sleaford is an attractive market town in Lincolnshire. The property is situated in the busy and established Oakside Park Industrial Estate, just north east of Sleaford town centre. Nearby occupiers include Screwfix, Kwik Fit, Howdens, Better leisure centre and Toolstation.
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 mezzanine level and yard areas. The property has a total floor area of 843.40 sq m (9,078 sq ft) upon a site area of 0.30 Ha (0.75 Acres) benefitting from a low site coverage of 25%.
VAT
VAT is applicable to this lot.
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 mezzanine level and yard areas. The property has a total floor area of 843.40 sq m (9,078 sq ft) upon a site area of 0.30 Ha (0.75 Acres) benefitting from a low site coverage of 25%.
VAT
VAT is applicable to this lot.
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) (2)
£69,578
01/12/2025 01/12/2030 (3)
Total
843.40
(9,078)
£69,578
(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 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
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.
