Substantial Trade Counter and Warehouse Let to City Plumbing Supplies Holdings Ltd
Recently renewed lease expiring November 2033 (subject to option)
Tenant in occupation for over 25 years
Floor Area of approx. 1,144.38 sq m (12,318 sq ft)
Approx. site area of 0.23 Ha (0.56 Acres)
Established Industrial Estate Location close to A30 and A358
Lot 4
Auction 15th February 2024
Rent £74,000 per Annum Exclusive
Status Sold Prior
Price
Sector Trade Counter/Builders Merchants
Auction Venue Live Streamed Auction
On Behalf of a Major Asset Manager
Property Information
Location
Miles
13 miles south-east of Taunton, 30 miles north-east of Exeter, 53 miles south-west of Bristol
Roads
M5, A303, A358
Rail
Axminster Railway Station
Air
Exeter Airport, Bristol Airport
Situation
Chard is an attractive town located on the edge of the Blackdown Hills which is in an Area of Outstanding Natural Beauty. The property is situated just east of the town centre on Millfield Industrial Estate, an established industrial location. Nearby occupiers include Numatic International, Tesco Superstore, Lidl and several motor dealerships and trade counters.
Tenure
Freehold.
Location
Miles
13 miles south-east of Taunton, 30 miles north-east of Exeter, 53 miles south-west of Bristol
Roads
M5, A303, A358
Rail
Axminster Railway Station
Air
Exeter Airport, Bristol Airport
Situation
Chard is an attractive town located on the edge of the Blackdown Hills which is in an Area of Outstanding Natural Beauty. The property is situated just east of the town centre on Millfield Industrial Estate, an established industrial location. Nearby occupiers include Numatic International, Tesco Superstore, Lidl and several motor dealerships and trade counters.
Tenure
Freehold.
Description
The property comprises a ground floor trade counter / warehouse with first floor office together with mezzanine ancillary accommodation. There is customer car parking to the front of the site and a goods yard to the rear. The property has a total floor area of 1,144.38 sq m (12,318 sq ft) upon a site area of 0.23 Ha (0.56 Acres).
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 with first floor office together with mezzanine ancillary accommodation. There is customer car parking to the front of the site and a goods yard to the rear. The property has a total floor area of 1,144.38 sq m (12,318 sq ft) upon a site area of 0.23 Ha (0.56 Acres).
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
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Rent Review
Ground Ground Mezzanine First
Trade Counter/Warehouse Office Ancillary Office
803.62 44.31 250.93 45.52
(8,650) (477) (2,701) (490)
CITY PLUMBING SUPPLIES HOLDINGS LTD (1)
10 years from 28/11/2023 until 27/11/2033 (2) (3)
£74,000
28/11/2028
Total
1,1144.38
(12,318)
£74,000
(1) City Plumbing Supplies Holdings Ltd was established in 1990 and operate from a network of over 360 branches across the UK (www.cityplumbing.co.uk). City Plumbing is wholly owned by Highbourne Group Limited and for the year ending 31/12/2022 reported a Turnover of £1,324,200,000, a Pre-Tax Profit of £48,100,000 and a Net Worth of £81,800,000 (NorthRow 08/01/2024). (2) The lease provides for a rent free period until 10/06/2024. The Seller will pay to the Buyer the rent that would have been due from completion of the sale until the end of the rent free period. (3) The lease provides for a tenant option to determine the lease on 28/11/2028 upon serving 6 months written notice. The tenant will benefit from a rent free period until 10/06/2028 (approximately 6 months and 2 weeks) if the break option is not exercised. Please see the lease for further detail.
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.
