Freehold Motor Trade/Warehouse Investment with Index-Linked Rent Reviews
Let to Halfords Autocentres Limited
Lease expires May 2036 (subject to option)
5-yearly CPIH rent reviews subject to a 1% collar and 3% cap (compounded annually)
Site area approximately 0.36 acres (0.14 ha) including 15 customer car parking spaces. Site coverage ratio of 30%
Site underpinned by long term redevelopment value
Strong established industrial and commercial location. 1 mile from Lakeside Shopping Centre
Nearby occupiers include Ikea, B&Q, DHL, Screwfix, Toolstation, Selco, Dulux, Thurrock Engineering Supplies and GSF Car Parts
Lot 6
Auction 9th May 2024
Rent £49,500 per Annum Exclusive
Status Sold
Price £874,000
Sector Industrial, Warehouse
Auction Venue Live Streamed Auction
On Behalf of a Major Fund
Property Information
Location
Miles
23 miles east of Central London, 24 miles south-west of Southend-on-Sea
Roads
A13, A282, A1090, M25 (Junction 30)
Rail
Chafford Hundred Station and Grays Station (Overground)
Air
London City Airport
Situation
Thurrock is a London commuter town located 23 miles east of Central London and 24 miles south-west of Southend-on-Sea, benefitting from excellent road communication links. The property is 2 miles south of Junction 30 of the M25, which provides access to the Dartford Crossing and the wider national motorway network and is prominently situated on the corner of London Road at its junction with Motherwell Way, in an established industrial and commercial location. Nearby occupiers include Ikea, B&Q, DHL, Screwfix, Toolstation, Selco, Dulux, Thurrock Engineering Supplies and GSF Car Parts.
Tenure
Freehold.
Location
Miles
23 miles east of Central London, 24 miles south-west of Southend-on-Sea
Roads
A13, A282, A1090, M25 (Junction 30)
Rail
Chafford Hundred Station and Grays Station (Overground)
Air
London City Airport
Situation
Thurrock is a London commuter town located 23 miles east of Central London and 24 miles south-west of Southend-on-Sea, benefitting from excellent road communication links. The property is 2 miles south of Junction 30 of the M25, which provides access to the Dartford Crossing and the wider national motorway network and is prominently situated on the corner of London Road at its junction with Motherwell Way, in an established industrial and commercial location. Nearby occupiers include Ikea, B&Q, DHL, Screwfix, Toolstation, Selco, Dulux, Thurrock Engineering Supplies and GSF Car Parts.
Tenure
Freehold.
Description
Comprises a purpose-built single storey workshop/garage of 5,685 sq ft on a site area of approximately 0.36 acres (0.14 ha). The property benefits from around 15 customer car parking spaces to the front and side.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
C69
Description
Comprises a purpose-built single storey workshop/garage of 5,685 sq ft on a site area of approximately 0.36 acres (0.14 ha). The property benefits from around 15 customer car parking spaces to the front and side.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
C69
Tenancy & Accommodation
Floor
Use
Gross Internal Floor Areas Approx sq m
Gross Internal Floor Areas (Approx sq ft)
Tenant
Term
Rent p.a.x.
Rent Reviews
Ground Mezzanine
Reception/Workshop/Ancillary Ancillary
435.15 92.99
(4,684) (1,001)
HALFORDS AUTOCENTRES LIMITED (1)
15 years from 26/05/2021 until 25/05/2036 (2) on a full repairing and insuring lease
£49,500
26/05/2026 and 26/05/2031 linked to CPIH collared at 1% p.a. and capped at 3% p.a. compounded annually.
Total
528.14
(5,685)
£49,500
(1) There are over 600 Halfords Autocentres nationwide that serve over 750,000 customers with a wide range of vehicle repair and maintenance services. For the year ending 31/03/2023, Halfords Autocentres Limited reported a turnover of £285,100,000, a pre-tax profit of £9,600,000 and a net worth of £44,800,000. (2) The lease is subject to a tenant only break option on 25/05/2031, subject to 6 months’ written notice.
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.
