Let to Avio Parts Ltd until 2032 (subject to Option) and Building Plumbing Supplies Ltd until 2029
October 2024 Break Option NOT Exercised
Two Substantial Prominent Industrial Units of Approximately 2,926.26 sq m (31,499 sq ft) with Service Yards
Benefits from Eaves Height of Approximately 7.5 metres (24 ft), Vehicle Access Loading Doors and Forecourt Car Parking
Site area of Approximately 0.51 Hectares (1.25 Acres) with a Site Coverage of 52%
Important Review Due in October 2024
Established Industrial Estate Location
Lot 15
Auction 25th September 2024
Rent £181,005 per Annum Exclusive
Status Sold
Price £2,525,000
Sector Industrial, Warehouse
Auction Venue Live Streamed Auction
On Behalf of a Major Fund
Property Information
Location
Miles
7.5 miles east of Leamington Spa, 22 miles west of Northampton, 25 miles south-east of Birmingham City Centre
Roads
A425, M40 (J12), M1 (J16)
Train
Leamington Spa Railway Station
Air
Birmingham Airport
Situation
Southam is located to the south of Warwickshire, approximately 25 miles south east of Birmingham city centre, with excellent transport links to the M40 (Junction 12) and M1 (Junction 16) motorways. The property is situated on a well established industrial park to the south of the town centre, fronting Westfield Road near its junction with Southfield Road.
Tenure
Freehold.
Location
Miles
7.5 miles east of Leamington Spa, 22 miles west of Northampton, 25 miles south-east of Birmingham City Centre
Roads
A425, M40 (J12), M1 (J16)
Train
Leamington Spa Railway Station
Air
Birmingham Airport
Situation
Southam is located to the south of Warwickshire, approximately 25 miles south east of Birmingham city centre, with excellent transport links to the M40 (Junction 12) and M1 (Junction 16) motorways. The property is situated on a well established industrial park to the south of the town centre, fronting Westfield Road near its junction with Southfield Road.
Tenure
Freehold.
Description
The property comprises two substantial industrial units each benefitting from an eaves height of approximately 7.5 metres (24ft), vehicle access loading doors, secure yards and forecourt car parking.
The property benefits from a site area of approximately 0.51 Hectares (1.25 Acres) with a site coverage of 52%, providing service yards and car parking. There is also an electricity substation on the site.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Units 2a and 2b = C, Unit 3 = C
Description
The property comprises two substantial industrial units each benefitting from an eaves height of approximately 7.5 metres (24ft), vehicle access loading doors, secure yards and forecourt car parking.
The property benefits from a site area of approximately 0.51 Hectares (1.25 Acres) with a site coverage of 52%, providing service yards and car parking. There is also an electricity substation on the site.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Units 2a and 2b = C, Unit 3 = C
Tenancy & Accommodation
Address
Floor
Use
Floor Areas Approx sq m (1)
Floor Areas Approx sq ft (1)
Tenant
Term
Rent p.a.x.
Rent Review / (Reversion)
Units 2a and 2b
Ground First
Industrial Industrial
1,669.14 42.08
(17,967) (453)
BUILDING AND PLUMBING SUPPLIES LIMITED (CRN: 00288407) (2)
15 years from 10/10/2014 (2)
£97,000
10/10/2024 (09/10/2029)
Unit 3
Ground Mezzanine First
Industrial Industrial Industrial
971.49 85.09 158.46
(10,457) (916) (1,706)
AVIOPARTS LIMITED (CRN: 14124671) (3)
10 years from 21/11/2022 (3)
£84,000
21/11/2027 (20/11/2032)
Sub-station
-
Sub-station
-
(-)
WESTERN POWER DISTRIBUTION
25 years from 15/07/1987
£5
-
Total Approximate Floor Area
2,926.26
(31,499)
£181,005
(1) The above floor areas have been taken from the Valuation Office Agency (https://www.gov.uk/find-business-rates) (2) As to Units 2a and 2b, the tenant did NOT exercise their October 2024 break option. Building & Plumbing Supplies Limited (crn 002088407) are an independent builders merchants established in 1934 that trade across 5 branches in the UK in Warwickshire, Gloucestershire and Worcestershire (www.bpsbuildit.co.uk). For the period ending 30th June 2023 Building & Plumbing Supplies Limited (crn 002088407) reported a Turnover of £27,812,561., Gross Profit of £9,693,062 and Net Assets of £9,653,262. (Source: Annual Report and Financial Statements as published at Companies House 03/09/2024), (3) As to Unit 3, the lease provides for a tenant option to determine the lease on 21 November 2027, subject to 6 months written notice. Avioparts Ltd (crn14124671) is a world leading supplier of lubricants, aircraft parts and logistic solutions for aircraft maintenance since 1993 (www.avioparts.com)
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.
