Electricity Generation Facility Redfield Road, Lenton Lane Industrial Estate Nottingham Nottinghamshire NG7 2UJ

  • Electricity Generation Facility<br>Redfield Road, Lenton Lane Industrial Estate<br>Nottingham<br>Nottinghamshire<br>NG7 2UJ

Electricity Generation Facility
Redfield Road, Lenton Lane Industrial Estate
Nottingham
Nottinghamshire
NG7 2UJ

Freehold Electricity Generation Facility Investment

  • Electrical Generation Facility on a 1.31 Ha (3.25 Acre) site
  • Site coverage of 31%
  • Let until November 2035 (no breaks) with Tenant Option to Extend
  • Rent Reviews to the greater of Open Market Value or increased in line with Retail Price Index (3)
  • Situated on the well established Lenton Lane Industrial Estate
  • Neighbouring Occupiers include Arnold Clark Motorstore, Showcase Cinema Complex, Nandos, Five Guys and Booker
  • Lot
    15
  • Auction
    15th February 2024
  • Rent
    £72,000 per Annum Exclusive
    Rising to a minimum of £105,034 p.a.x. in 2025 (2)
  • Status
    Sold
  • Price
    £1,470,000
  • Auction Venue
    Live Streamed Auction
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Freehold Electricity Generation Facility Investment

  • Electrical Generation Facility on a 1.31 Ha (3.25 Acre) site
  • Site coverage of 31%
  • Let until November 2035 (no breaks) with Tenant Option to Extend
  • Rent Reviews to the greater of Open Market Value or increased in line with Retail Price Index (3)
  • Situated on the well established Lenton Lane Industrial Estate
  • Neighbouring Occupiers include Arnold Clark Motorstore, Showcase Cinema Complex, Nandos, Five Guys and Booker
  • Lot 15
  • Auction 15th February 2024
  • Rent £72,000 per Annum Exclusive Rising to a minimum of £105,034 p.a.x. in 2025 (2)
  • Status Sold
  • Price £1,470,000
  • Sector
    Industrial, Warehouse
  • Auction Venue
    Live Streamed Auction

Property Information

Location
Miles
15 miles east of Derby, 26 miles north of Leicester, 46 miles south of Sheffield
Roads
M1, A52, A453
Rail
Nottingham Railway Station, Beeston Railway Station
Air
East Midlands Airport
Situation

The property is prominently located on Redfield road within the well established Lenton Lane Industrial Estate some 1.5miles south west of Nottingham City Centre. The area is popular with trade counter and wholesale occupiers and benefits from excellent road links being less than 10 miles from Junction 25 of the M1 motorway. Neighbouring occupiers include Arnold Clark Motorstore, Showcase Cinema Complex, Nandos, Five Guys, Booker and ZF Services UK.

Tenure

Freehold.

Location
Miles
15 miles east of Derby, 26 miles north of Leicester, 46 miles south of Sheffield
Roads
M1, A52, A453
Rail
Nottingham Railway Station, Beeston Railway Station
Air
East Midlands Airport
Situation

The property is prominently located on Redfield road within the well established Lenton Lane Industrial Estate some 1.5miles south west of Nottingham City Centre. The area is popular with trade counter and wholesale occupiers and benefits from excellent road links being less than 10 miles from Junction 25 of the M1 motorway. Neighbouring occupiers include Arnold Clark Motorstore, Showcase Cinema Complex, Nandos, Five Guys, Booker and ZF Services UK.

Tenure

Freehold.

Description

The property comprises a broadly regular and level site of approximately 1.31 Ha (3.25 acres) upon which is an electrical generation facility with 27 modular generators. The property benefits from a low site coverage of 31%. The wider Lenton Lane Industrial Estate was constructed upon a former Land fill site, upon which this property also sits.

The occupational lease demise does not include the entire site area of the property. There is a strip of land that is being offered with vacant possession.

VAT

VAT is not applicable to this lot.

Note

The Special Conditions of Sale provide for the Buyer to pay to the Seller an additional 2% (VAT not applicable) of the purchase price and a contribution towards the Seller's costs and fees plus VAT. The Buyer is required to enter into an agreement with the Tenant and the Tenant's Lender in relation to the Landlord's conduct in the event that the Lender takes Enforcement Action against the tenant. A copy of the Agreement is available in the Legal Pack.

EPC

An EPC is not required for this property.

Description

The property comprises a broadly regular and level site of approximately 1.31 Ha (3.25 acres) upon which is an electrical generation facility with 27 modular generators. The property benefits from a low site coverage of 31%. The wider Lenton Lane Industrial Estate was constructed upon a former Land fill site, upon which this property also sits.

The occupational lease demise does not include the entire site area of the property. There is a strip of land that is being offered with vacant possession.

VAT

VAT is not applicable to this lot.

Note

The Special Conditions of Sale provide for the Buyer to pay to the Seller an additional 2% (VAT not applicable) of the purchase price and a contribution towards the Seller's costs and fees plus VAT. The Buyer is required to enter into an agreement with the Tenant and the Tenant's Lender in relation to the Landlord's conduct in the event that the Lender takes Enforcement Action against the tenant. A copy of the Agreement is available in the Legal Pack.

EPC

An EPC is not required for this property.

Tenancy & Accommodation

Use Site Area Approx Ha Site Area Approx (Acres) Tenant Term Rent p.a.x. Reviews
Electricity Generation Facility 1.24 (1) (3.065) (1) CONRAD (REDFIELD) LIMITED (CRN 12950381)
(2)		 20 years from 05/11/2015 until 2035
(2)
£72,000
Rising to a minimum of £105,034 p.a.x.
(3)
 05/11/2025
05/11/2030
(3)
Land 0.07 (0.190) VACANT POSSESSION -
-
 -
Total Approximate Site Area 1.31 (3.255)    
£72,000
Rising to a minimum of £105,034 p.a.x.
(3)
  

(1) As to Conrad (Redfield) Limited, the area of 3.065 acres is stated in the lease.
(2) The property is let to Conrad (Redfield) Limited (CRN 12950381) on assignment from Viridis 178 Ltd (CRN 09464998). Viridis 178 Ltd were dissolved in 30/09/2023. Conrad (Redfield) Ltd were incorporated in October 2020 and for the year ending 31/03/2022 reported a Turnover of £16,532,446, a Pre-Tax Profit of £6,383,752 and a Net Worth of £5,033,143 (NorthRow 18/01/2024).
(3) The lease provides for the rent to be reviewed upwards only to the greater of Open Market Rental Value or in line with the Retail Price Index. See lease and deed of variation for details. Using December 2023 Retail Price Index numbers of 379, the rent will increase to a minimum of £105,034 per annum exclusive at the November 2025 rent review providing the Retail Price Index numbers does not decrease.

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.

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Edward MartinEdward Martin +44 (0)20 7034 4854 +44 (0)7478 673 535edward.martin@acuitus.co.uk
Associate AuctioneersAlex Darlington 0121 609 8415 +44 (0)7904 630147 alex.darlington@avisonyoung.com  Damian LLoyd +44 (0)121 609 8223 +44 (0)7748111677damian.lloyd@avisonyoung.com
Seller's Solicitors
2nd Floor, Loxley House Station Street
Nottingham
NG2 3NG
Helen Bell 0115 87 65089Helen.Bell@nottinghamcity.gov.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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